Aditya Birla Fashion & Retail (ABFRL) is set to acquire a controlling stake in Bewakoof, an apparel and accessories brand, for approximately INR 100 crore.
This acquisition represents the company’s official entry into the direct-to-consumer market. “Both companies have signed non-disclosure agreements and completed due diligence.” According to an ET report, “the team at Bewakoof is also moving to join Aditya Birla’s new firm.” The Bewakoof team is likely to join ABFRL. TMRW, Aditya Birla Group’s ‘House of Brands’ business, was launched earlier this year.
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Aditya Birla Fashion & Retail (ABFRL) is set to acquire a controlling stake in Bewakoof, an apparel and accessories brand, for approximately INR 100 crore.
This acquisition represents the company’s official entry into the direct-to-consumer market. “Both companies have signed non-disclosure agreements and completed due diligence.” According to an ET report, “the team at Bewakoof is also moving to join Aditya Birla’s new firm.” The Bewakoof team is likely to join ABFRL. TMRW, Aditya Birla Group’s ‘House of Brands’ business, was launched earlier this year.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
