Home / Knowledge / News / Fashion / Aditya Birla Fashion buys Forever 21's Indian rights
Aditya Birla Fashion buys Forever 21's Indian rights
26
May '16
Aditya Birla Fashion and Retail, an Aditya Birla Group company, has acquired the rights for global fashion chain Forever 21 in India from the current franchisee Diana Retail for an undisclosed sum.

Forever 21 had a three year old tie up with DLF Brands and wanted to exit the partnership for a much aggressive play in the country. Earlier, Myntra was also reported to be in talks to buy the rights of Forever 21.

The acquisition includes Forever 21's its exclusive online and offline rights for Indian market and its existing store network in India, Aditya Birla Fashion and Retail said in a press release on Wednesday.

Forever 21 is among the fastest growing fashion retailers in the world with a large network of more than 700 stores worldwide.

"The proposed acquisition is in line with our strategic intent to create the largest integrated branded fashion player in the country. With the acquisition of Forever 21 India business, we aim to create a strong foothold in the womenswear business in the western wear segment," Pranab Barua, Managing Director, ABFRL said ahead of the acquisition.

"Currently, the western womenswear segment is growing at more than 20 per cent. The proposed acquisition will further strengthen leadership position of ABFRL in the branded fashion space," he added.

Forever 21 expects that its partnership with ABFRL will help establish it as one of the largest womenswear brand in the country.

"The young demographics of the country and emergence of fast fashion segment offers opportunity for rapid growth for the brand," Jatin Malhotra, Director, Global Expansion, Forever 21 said.

Founded in 1984, Forever 21 operates more than 730 stores in 48 countries with retailers in the US, Australia, Brazil, Canada, China, France, Germany and others. Forever 21 has brands like Forever 21, XXI Forever, Love 21 and Heritage in its portfolio. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search