Friday, 24 March, 2023

Flipkart to acquire a 7.8% stake in Aditya Birla Fashion

<p>Flipkart will buy a 7.8% stake in Aditya Birla Fashion and Retail for Rs 1500 cr. &nbsp;It will give the e-comm company a bigger foothold in its battle against rival Amazon.com and Reliance retail in the country&#39;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.</p>