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Aditya Birla Fashion and Retail Limited acquires 'Jaypore'

ANI 

India's leading company, Aditya and 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

The Board of Directors of Aditya and ['ABFRL'] today approved the signing of Share Purchase agreement to acquire The comprises online and offline operations. The proposed acquisition is subject to necessary statutory approvals and signing of definitive agreement(s).

"Ethnic wear is the largest segment in the Indian fashion apparel market. While 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,

"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 leadership position of in the branded fashion space", he added.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 10 2019. 21:15 IST
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