ABFRL partners with designer Tarun Tahiliani to launch new brand
As part of the deal, ABFRL will hold 80 percent stake in the new entity, while Tarun Tahiliani will hold the remaining 20 percent. Additionally, ABFRL will also acquire 33 percent stake in the existing luxury couture business of Tarun Tahiliani.
The new brand aims to open more than 250 stores across the country over the next five years and plans to launch the first set of retail stores by September 2021.
Commenting on the partnership, Ashish Dikshit, managing director at ABFRL, in a statement said: “Tarun Tahiliani has been at the forefront of the emergence of the Indian design industry. This partnership is in line with our stated strategy to craft a portfolio of brands that address the entire gamut of ethnic wear segments: value, premium and luxury.”
Tarun Tahiliani, founder and CEO of Tarun Tahiliani brand, added: “Last year, we celebrated 25 years of the Tarun Tahiliani label. The next big leap for the brand was to take our craftsmanship and expertise and offer it to a larger Indian market that knows and values quality and is actively seeking it. I was clear that we needed a partner who could not just help us with this scale, but also have the same dedication to quality and the customer. And that could only have been the Aditya Birla Group.”
ABFRL is betting big on the premium segment for growth and has made similar investments in Jaypore and Shantanu & Nikhil, and recently announced a partnership with Sabyasachi.
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