Reliance Consumer Products Ltd (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited, has acquired Chennai-based FMCG brand Velvette for an undisclosed sum. This is to revive the 45-year-old brand, which was once famous for manufacturing and distributing shampoos in sachets. However, its production was stopped a few years ago.
RCPL acquired the ‘perpetual license’, which allows it to use the brand across India. In the last few months, RCPL had acquired other ‘heritage’ brands like Campa and Paragon (Pan Pasand brand) and revive them, said Ketan Mody, COO, RCPL. “We are acquiring the Velvette brand and all the formulations,” he told newspersons.
Mody exchanged an agreement with Sujatha Rajkumar, Founder of Chinni Nambi Enterprises (CNE), and Arjun Rajkumar, CEO of CNE, which used to manufacture Velvette, at a press meeting on Friday. According to a release, CNE handles the marketing and distribution of Nivaran 90, Meoray Plus, and Memory Vita.
“We want to revive the heritage brand Velvette. We will start with manufacturing shampoos and distribute it first in Tamil Nadu and then take it to the rest of the country. We will also look at other body products like soaps,” he added.
Mody said Velvette’s legacy of innovation and its pivotal role in making personal care products accessible to millions is truly remarkable.
RCPL, which was formed a couple of years ago, for the first nine months of the current fiscal reported revenue of ₹8,000 crore, said Mody.