Arvind Fashions (AFL) on Tuesday stated its subsidiary Arvind Way of living Brands has obtained Rs 260 crore from Flipkart India to select a minority stake in another team agency Arvind Youth Brands. Arvind Youth Brands is Arvind Fashions’ recently-shaped subsidiary which will individual the Flying Device model.
“…Just after completion of the customary problems precedent, Arvind Way of living Brands Ltd, a subsidiary of the business, obtained Rs 260 crore from Flipkart India as thing to consider for the sale of a major minority stake in Arvind Youth Brands, another subsidiary of the business,” Arvind Fashions stated in a BSE submitting.
Previously this month, Arvind Fashions experienced informed exchanges that Flipkart Group experienced invested Rs 260 crore to select a minority stake in its subsidiary Arvind Youth Brands.
Flying Device has been retailing on the group’s platforms of Flipkart and Myntra for far more than 6 yrs.
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