Flipkart Acquires a Stake in Birla Fashion
Code : MAA0229 |
Region : Asia |
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Introduction:Aditya Birla Fashion and Retail Limited (Birla Fashion), a unit of the Aditya Birla Group in India and a leading lifestyle brand retailer, offered a range of fashion brands like Allen Solly, Peter England, Van Heusen, and Louis Philippe. It also managed a chain of retail fashion branded outlets, ‘Pantaloons’, across the country. Birla Fashion had been facing significant challenges from e-commerce platforms as well as from existing players. Retail players, on the whole, had been experiencing a significant cash crunch due to which many of them were unable to invest in expanding their businesses to meet the changing preferences of the customers. Birla Fashion too had been facing this challenge and was looking at raising sufficient financial resources to meet expansion requirements. Further, the retail business of brick and mortar fashion stores was adversely affected amid the COVID-19 pandemic and the subsequent lockdown... |
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