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Published
Apr 3, 2017
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Aditya Birla Fashion in talks for stake in Bestseller India

Published
Apr 3, 2017

The Aditya Birla Group’s fashion division is in talks with Danish apparel company Bestseller A/S to acquire a significant stake in the Indian arm of the fashion house that owns Vero Moda, Jack & Jones, and Only, according to a report in the Economic Times.




Aditya Birla Fashion and Retail (ABFR) is in “active discussions” to acquire 49% stake in Bestseller India, and is offering attractive valuations, according to an industry executive aware of the development.

ABFR said it does not comment on “market speculations,” while Bestseller confirmed business discussions with the Indian group.

“Our pan-India presence over the last two years has increased and we hope to bring in more brands to the market in the years ahead,” Vineet Gautam, chief executive of Bestseller India, said in an emailed response. “As a result, we have seen increased interests from multiple key Indian partners and business houses, Aditya Birla being one of them.”

Aditya Birla Fashion owns top labels in formal menswear, such as Louis Philippe, Van Heusen, and Allen Solly. It also owns the Pantaloons department stores. The company said it is a “market leader” in India’s branded apparel market, and that it has a “rich portfolio of the largest and the most profitable brands in the country”.

“These brands enjoy unparalleled consumer franchise with their distinctive brand and product proposition as well as wide reach across channels,” an Adiyta Birla Fashion spokesperson said.
 

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