Flipkart eyes retail brands, acquires 7.8% stake in Aditya Birla Fashion

Flipkart is eyeing strategic stakes in multiple small, regional as well large retailers in India as the e-commerce giant looks to tap the offline retail opportunity in the country, according to sources. The Walmart-owned firm is in a race with rivals Amazon and Reliance’s JioMart, who are also following a similar strategy and are in talks with multiple Indian offline retailers to buy strategic stakes.

Flipkart Group and Aditya Birla Fashion and Retail Limited (ABFRL) have formed a new strategic partnership aimed at enhancing the consumer fashion experience. Through an investment of  Rs 1,500 crore, Flipkart Investments will acquire about