Aditya Birla Fashion and Retail (ABFRL) has executed a Business Transfer Agreement with Diana Retail and DLF Brands (the promoter of Diana Retail), for the acquisition of the business undertaking of Diana Retail relating to the business of operating retail stores in India for the sale of clothing, artificial jewellery, accessories and related merchandise under the Forever 21 brand and also through e- commerce channels (Forever 21 Undertaking) on a going concern basis, by means of a ‘slump sale’, for a lump sum consideration and certain other matters incidental thereto.
The Company has also executed a franchise agreement with Forever 21, Inc in terms of which the Company has been appointed the exclusive franchisee for the brand ‘Forever 21’ for the Indian market. Pursuant to the said acquisition and upon completion of the transactions, the Forever 21 Undertaking will form part of the Madura Fashion & Lifestyle Division of the Company.
ABFRL’s portfolio of brands spans from luxury to super premium, premium, sub-premium to fast fashion segments. The addition of Simon Carter’s new international designer brand will add richness to ABFRL’s super premium brand collection giving its discerning customers a true taste of high fashion.
Company Name | CMP |
---|---|
Avenue Supermarts | 3408.50 |
Aditya Birla Fashion | 282.25 |
Trent | 6829.00 |
Vishal Mega Mart | 101.11 |
Electronics Mart Ind | 170.05 |
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