“The board of directors of ABFRL today approved the signing of share purchase agreement to acquire Jaypore. The business comprises online and offline operations. The proposed acquisition is subject to necessary statutory approvals and signing of definitive agreement(s),” the company said in a BSE filing.
“Ethnic wear is the largest segment in the Indian fashion apparel market. While ABFRL has built a diversified portfolio of brands across different segments, ethnic wear space is currently under-represented in our bouquet of offerings to consumers. The proposed acquisition is, therefore, a great strategic addition to our portfolio and gives us a strong footing in a segment that is growing in double digits,” said ABFRL managing director Ashish Dikshit.
“Jaypore is a brand with strong equity and with a differentiated offering of products based on Indian crafts. It provides a great platform for us to build a strong presence in the ethnic segment and in accessories and home segment. This acquisition will further strengthen leadership position of ABFRL in the branded fashion space,” Dikshit added.
A part of $44.3 billion Aditya Birla Group, ABFRL is India’s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. As on March 31, 2019, the company had a strong network of 2,714 brand stores across 750 cities in the country. It is present across18000+ multi-brand outlets and 5000+ point of sales in department stores across India. It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. (RKS)
Fibre2Fashion News Desk – India
| On 27th Sep 2021
China’s State Council's executive meeting recently adopted the 14th...
| On 27th Sep 2021
American Apparel & Footwear Association president and CEO Steve Lamar ...
Bangladesh recently urged the US to provide duty-free access to its...
Extension of RoSCTL to boost textile exports
Fabric selection & recommendation based on client's brief
Sustainable and eco-friendly fibres remain in the minority
Abdullah Mohammad Saad Hossain
Saad Group is a leading vertically integrated textile group in Bangladesh. ...
Founded in 1920, Eastman is a global specialty materials company that...
Based out of Como, Italy, and with technological expertise of nearly 70...
Sameer Sonkusale & Rachel Owyeung
A team at the Tufts University in Massachusetts was recently in news for...
Seevix Material Sciences Ltd, which develops and manufactures synthetic...
Thomas Ong P S
Malaysian company NanoTextile Sdn Bhd taps into the potentials of...
The creations by <b>Aprajita Toor</b> were born out of a deep desire to...
<b>Anjali Bhaskar</b> has an experience of 12 years in the fashion...
Abhishek Bajaj & Samiksha Bajaj
Samshek is a fashion forward tech brand which combines digital experience...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.