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Published: Apr 30, 2023
Updated: Apr 30, 2023
Within months of Reliance Industries buying Metro Cash and Carry, the Aditya Birla group acquired TCNS Clothing. Birla has therefore pipped Reliance and Nykaa in the race for the acquisition.
Birla officials say the acquisition will be partially funded from the funds received from GIC of Singapore which is picking up a minority stake in the company. WalMart- owned Flipkart already owns an 8 per cent stake in Aditya Birla Fashion.
The Indian clothing industry is dominated by MNCs at the upper end of the market and by Indian brands like Westside and Shoppers Stop at the lower end of the market. Aditya Birla Fashion wants to have a presence across all segments with the Sabyasachi brand catering to the upper end of the market and TCNS to the lower end.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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