Aditya Birla fashion unit to buy majority stakes in 3 brands
TMRW, a wholly-owned unit of Aditya Birla Fashion Retail Ltd, is all set to buy majority stakes in three startups, in what would be its first step towards creating one of India’s largest portfolio of disruptor brands in the fashion and lifestyle industry, said at least two people aware of the matter.
The venture is in the final stage of discussions to buy a controlling stake in Hyderabad-based Urbano Fashion, run by Imperial Online Services Pvt. Ltd; Hyderabad-based Pratyaya E-Commerce Pvt. Ltd, which markets its offerings under the brand name Nobero; and Ahmedabad-based Awesomefab Shopping Pvt. Ltd, which sells its products through its portal Veirdo.com.
The size of the potential deals couldn’t be immediately ascertained. “It may vary depending on the revenue and potential of each of these brands and also for future transactions,” said one of the persons cited above, requesting anonymity.
He added that talks are progressing with more brands and the company is likely to soon onboard some of them.
