Left Menu
Development News Edition

Aditya Birla Fashion and Retail Limited acquires 'Jaypore'

ANI | Mumbai (Maharashtra) | Updated: 10-06-2019 21:33 IST | Created: 10-06-2019 21:16 IST
Aditya Birla Fashion and Retail Limited acquires 'Jaypore'
Image Credit: Pixabay

Mumbai (Maharashtra) [India] June 10 (ANI/NewsVoir): India's leading fashion company, Aditya Birla Fashion and Retail Limited begins a new chapter in its growth story with 100 per cent acquisition of 'Jaypore'; an Indian online and offline retailer, that offers curated collections of handmade, handwoven and handcrafted apparel, jewellery, home textiles and accents, based on craft forms, from all over India. The Board of Directors of Aditya Birla Fashion and Retail Limited ['ABFRL'] today approved the signing of Share Purchase agreement to acquire Jaypore. The business comprises online and offline operations. The proposed acquisition is subject to necessary statutory approvals and signing of a definitive agreement(s).

"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", said Ashish Dikshit, Managing Director, ABFRL. "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", he added.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.


TRENDING

OPINION / BLOG / INTERVIEW

Why COVID-19 is unstoppable in USA despite it being ranked at the top of GHS Index?

Several worst-hit countries such as Italy, France, Spain, the UK, Canada, and Russia have peaked COVID-19 cases in April. Almost all of them have gradually flattened the curve. However, the USA is setting new daily records of infections tha...

COVID-19 seems cooking biggest ever global scam

The increasing number of corruption cases on COVID-19 funds from throughout the world and involvement of high profile persons indicate that the countries cant ignore corruption in their pandemic response programs. This has generated the nee...

Health Management Information Systems lack holistic, integrated, and pandemic resilient character

Being a part of the United Nations system, the World Health Organization WHO deserves its share of rebuke for its alleged failure issue COVID-19 health emergency alerts on appropriate time. However, the pandemic has also exposed loopholes i...

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...

Videos

Latest News

Reuters People News Summary

Following is a summary of current people news briefs. Glee star Naya Rivera presumed drowned as search continues for bodyFormer Glee star Naya Rivera is presumed to have drowned while boating on a lake near Los Angeles, authorities said on ...

Reuters Health News Summary

Following is a summary of current health news briefs. Indias Biocon secures approval to use drug on coronavirus patientsIndias Biocon Ltd has received regulatory approval for its drug Itolizumab to be used on coronavirus infected patients s...

Reuters Entertainment News Summary

Following is a summary of current entertainment news briefs. Ex-wife or friend defecated in their bed in fitting end to marriage, Depp tells courtMovie star Johnny Depp told Londons High Court on Friday that his ex-wife Amber Heard or her f...

Reuters Science News Summary

Following is a summary of current science news briefs. Scientists focus on how immune system T cells fight coronavirus in absence of antibodiesAs scientists question whether the presence, or absence, of antibodies to the novel coronavirus c...

Give Feedback