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India's ABDFRL acquires majority stake in Bewakoof Brands
17 Feb '23
1 min read
Pic: Bewakoof
TMRW, an Aditya Birla Group venture under Aditya Birla Digital Fashion Ventures Limited (ABDFVL), a wholly owned subsidiary of Aditya Birla Fashion and Retail Limited (ABFRL), has announced the completion of the acquisition of an 81.77 per cent stake in Bewakoof Brands Private Limited (BBPL) as of February 15, 2023. The acquisition has resulted in BBPL becoming a step-down subsidiary of the company, ABFRL said in a letter to Bombay Stock Exchange (BSE).
BBPL, a lifestyle fashion brand, is known for its strong online presence and makes distinctive fashion apparel for the trendy, contemporary Indian.
ABFRL has a strong network of 3,468 brand stores across the country. It is present across 28,000-plus multi-brand outlets and 6,500-plus points of sales in department stores across India.
TMRW is building a portfolio of disruptor brands in the fashion and lifestyle space and enabling the next phase of direct to consumer (D2C) growth in India.
Fibre2Fashion News Desk (DP)
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