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Flipkart invests ₹1,500 crore in Aditya Birla Fashion and Retail

Flipkart has invested ₹1,500 crore for a 7.8% share in Aditya Birla Fashion and Retail Limited, the company announced on Friday. Flipkart said this deal will allow it to add more brands on its e-commerce platforms Flipkart and Myntra. Aditya Birla Fashion and Retail owns and operates retail apparel chains like Pantaloons and Forever 21, along with a number of apparel brands such as Allen Solly and Peter England. In a regulatory filing on Friday, Aditya Birla Fashion and Retail said that as part of the deal, it had entered into a commercial agreement with Flipkart to sell its various fashion brands. Flipkart said the deal will also aid Aditya Birla Fashion and Retail’s omni-channel capabilities. It will use the investment money to strengthen its balance sheet. The company is also planning to scale-up in fashion categories such as innerwear/ athleisure,…

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