Home / Knowledge / News / Results / Aditya Birla Fashion acquires TG Apparel & Decor

Aditya Birla Fashion acquires TG Apparel & Decor

11
Jun '19
Pic: Joy Deb from Pexels
Pic: Joy Deb from Pexels
The board of directors of Aditya Birla Fashion and Retail Limited (ABFRL) has approved entering into a Share Purchase Agreement with the existing shareholders of TG Apparel & Decor Private Limited, to buy 100 per cent shares. TG Apparel is a B2C entity which retails ethnic fashion, both online and offline. Its revenue in fiscal 2018-19 stood at ₹33.7 crore.

ABFRL’s decision to acquire TG Apparel is subject to receipt of necessary statutory approvals, if any and customary closing conditions, which are expected to get completed in 30-45 days.

The acquisition of TG Apparel, along with the recently announced buying of Jaypore, will strengthen ABFRL’s presence in ethnic apparel and accessories.

Incorporated in 2015, TG Apparel’s revenue was ₹33.8 crore in fiscal 2016-17 and ₹35.8 crore in 2017-18.

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 across 18000+ 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


Must ReadView All

Pic: Shutterstock

E-commerce | On 18th Aug 2019

E-commerce sales grow faster in rural China in H1

Rural China saw faster growth in e-commerce sales compared to urban...

Pic: Steve Madden

Apparel/Garments | On 18th Aug 2019

Steve Madden acquires Italian footwear brand Greats

Steve Madden, a designer and marketer of fashion footwear and...

Pic: Shutterstock

Retail | On 18th Aug 2019

For every US retailer closing stores, 5 are opening: IHL

More than five retail chains are opening stores for every retailer...

Interviews View All

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Mandeep Nagi, Shades of India

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Ronald Van Den Broek,

Ronald Van Den Broek

Headquartered in Japan, Mimaki Engineering Co. Ltd. manufactures and...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


August 2019

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

news category


Related Categories:

Advanced Search