Aditya Birla Style Units to Purchase Majourity Stakes In Three 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 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 ano- nymity. He added that talks are pro- gressing with more brands and the company is likely to soon onboard some of them.
While a spokesperson for TMRW declined to comment, queries emailed to the startups remained unanswered till press time.
Launched in 2016, Urbano Fash lon offers Jeans, t-shirts, shirts, trousers, track pants, shorts, winter wear for both men and women. While the products are currently available on leading online marketplaces including Myntra, Amazon, Flipkart and Limer- oad, Urbano has also launched its own website to sell the products,
Birla Group in June this year, TMRW plans to either acquire or incubate .
ABFRL has been otherwise widening its portfolio of brands, both by acquiring licences for international brands in India as well investing in home grown ethic wear labels. This has helped the retailer move beyond the formal men’s clothing segment.
In January this year, it took a51% stake in House of Masaba Lifestyle Pvt. Ltd. Last year, it had signed a long-term licensing pact to exclu sively sell Reebok products in India and other Asean countries. In 2021, It acquired a 51% stake in luxury designer label Sabyasachi, besides its partnership with fashion designer Tarun Tahiliani. In 2019, ABFRL bought omni-channel ethnic wear retaller Jaypore for Rs 110
The decision to float the venture was taken up by the group, keeping in line with its strategy to launch and back new age digital ventures. The group also crore.
