India’s Aditya Birla Fashion and Retail Ltd said on Wednesday it would buy a 51% stake in the Sabyasachi brand, best known for high-end wedding wear favoured by Bollywood celebrities and rich business families.
Forever 21, an international fast-brand from Los Angeles, licensed by Aditya Birla Fashion and Retail Ltd in India, has strengthened its retail presence with the opening of its new store in New Delhi.
Ambience Mall is currently under investigation by the Central Bureau of Investigation. The Punjab and Haryana high court ordered the Haryana Government to provide assistance to the CBI to trace witnesses and documents.
Walmart Inc’s Flipkart will buy a 7.8 percent stake in Aditya Birla Fashion and Retail Ltd for 15 billion rupees ($204 million), the fashion retail company said, sending its shares up 6 percent on Friday.