Clovia

Innerwear · Lingerie, nightwear, athleisure

Acquired by Reliance RetailIndia

HQNoida, India

Founded2012

FoundersPankaj Vermani, Neha Kant, Suman Chowdhury

RegionIndia

Financials

FY24 RevenueFY24 not isolated in search

FY25 RevenueFY23 ~₹291.7 Cr (doubled YoY)

YoY growthStrong pre-acquisition

Profitabilityunverified

Channels & Distribution

Channel mix not disclosed.

D2C—

Marketplace—

Offline—

Stores200

Tech stack

Primary stackCustom

Shopify share—

Mobile appYes

Stack signals

Proprietary AI-driven 'Insights to Product' engineReliance MarTech post-acq

CRM: Reliance MarTech post-acq

Analyst notes

Purple Panda Fashions parent. Acquired Mar 2022 by Reliance Retail (89% for ₹950 Cr). 200+ stores across 50 locations. AI-driven product engine (Pankaj Vermani's tech-led approach).

Confidence: verifiedVerified 5 Jun 2026

Funding

Latest roundAcquisitionMar 2022

Round size₹950 Cr (89% stake)

Total raised—

Valuation₹950 Cr (acquisition)Mar 2022

Investors

Reliance Retail (owner)AT Capital (ex)IvyCap (ex)Singularity (ex)Mount Judi (ex)

Clovia

Financials

Channels & Distribution

Tech stack

Analyst notes

Funding

Sources

More in Innerwear

Enamor

XYXX

Zivame