ABFRL picks up 33.5% stake in Tarun Tahiliani brand to strengthen position in ethnic wear segment

Aditya Birla Fashion & Retail (ABFRL) has acquired 33.5% stake in Goodview Properties Personal Constrained (GPPL), the corporation founded by manner designer Tarun Tahiliani, for Rs sixty seven crore. The all-hard cash offer is anticipated to be completed in forty five-sixty times, ABFRL reported in a statement. Underneath this partnership, ABFRL and Tahiliani will also kind a new entity that will start a present-day men’s ethnic use brand.

ABFRL will keep eighty% stake in the new entity whilst Tahiliani will keep the remaining twenty%.

The new brand, which will function in the high quality situation use section at available selling price points, aims to create a Rs five hundred crore business in the subsequent 5 several years with about 250 stores. The brand will roll out the 1st established of retail stores by September. As element of the offer, ABFRL will also receive 33% stake in the existing luxury couture

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