Flipkart to acquire a 7.8% stake in Aditya Birla Fashion

Flipkart will buy a 7.8% stake in Aditya Birla Fashion and Retail for Rs 1500 cr.  It will give the e-comm company a bigger foothold in its battle against rival Amazon.com and Reliance retail in the country’s fast-growing online market. The deal will help Flipkart and its subsidiary Myntra to add more merchandise from international brands — Forever 21, American Eagle Outfitters and Ralph Lauren, etc — which Birla group has a license to sell in India.

Click here to read the full story

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s