ABFRL picks up 33.5% stake in Tarun Tahiliani brand to strengthen position in ethnic wear segment, Retail News, ET Retail

Aditya Birla Trend & Retail (ABFRL) has acquired 33.five% stake in Goodview Homes Private Confined (GPPL), the organization launched by trend designer Tarun Tahiliani, for Rs 67 crore. The all-funds deal is expected to be accomplished in 45-60 days, ABFRL stated in a assertion. Underneath this partnership, ABFRL and Tahiliani will also form a new entity that will launch a up to date men’s ethnic have on manufacturer.

ABFRL will maintain 80% stake in the new entity when Tahiliani will maintain the remaining twenty%.

The new manufacturer, which will work in the high quality occasion have on section at available cost details, aims to build a Rs 500 crore business in the up coming five years with about 250 suppliers. The manufacturer will roll out the first established of retail suppliers by September. As aspect of the deal, ABFRL will also receive 33% stake in the existing luxurious couture business

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