Page 3 - Aditya Birla Fashion
Aditya Birla Fashion buys India rights of Forever 21
Aditya Birla Fashion and Retail, part of Aditya Birla Group, has acquired the rights for global fashion chain Forever 21 in the country for an undisclosed sum.Forever 21 had a three year old tie up with DLF Brands and wanted to exit the partnership for a much aggressive play in the country, said sources. Myntra was also in talks to buy the rights of Forever 21, reports said earlier.Aditya Birla Fashion has signed a memorandum of understanding (MoU) with the US based Forever 21 to acquire its exclusive online and offline rights for Indian market and its existing store network in India from the current franchisee Diana Retail, the company said on Wednesday in a release.Pranab Barua, managing director of ABFRL said, "The proposed acquisition is in line with our strategic intent to create the largest integrated branded fashion player in the country. With the acquisition of Forever 21 India business, we aim to create a strong foothold in the womenswear business in the western wear segment.
Want to build Forever 21 as large independent business: Ashish Dikshit
Q&A with business head, Madura Fashion & Lifestyle at Aditya Birla Fashion
 "Want to build Forever 21 as large independent business: Ashish Dikshit")