Published
Jun 10, 2019
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Aditya Birla Fashion acquires Jaypore for Rs 110 crore

Published
Jun 10, 2019

Aditya Birla Fashion and Retail Limited (ABFRL) has entered the ethnic wear market in India with the acquisition of ethnic wear brand Jaypore for Rs 110 crore ($16.5 million).
 

Aditya Birla Fashion acquires Jaypore for Rs 110 crore


The board of directors of ABFRL has already approved the signing of the share purchase agreement to acquire Jaypore and the deal is expected to be complete within 45 days.
 
With the acquisition of Jaypore, ABFRL expects strong growth going forward in the Indian fashion apparel market

Commenting on the acquisition, Ashish Dikshit, managing director, ABFRL in a statement said: “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.”
 
“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 the leadership position of ABFRL in the branded fashion space,” Dikshit added.
 
Jaypore sells apparel, home decor, accessories, jewelry and more through its online and offline stores. It had generated revenue of Rs 39 crore for the fiscal year 2018-19.

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