Home Fashion Flipkart Group invests Rs 260 crore in Arvind Fashions’ arm

Flipkart Group invests Rs 260 crore in Arvind Fashions’ arm

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Group on Thursday announced it has invested Rs 260 crore to purchase a significant minority stake in , a subsidiary of Arvind Fashions (AFL).

Flipkart Group invests Rs 260 crore in Arvind Fashions' arm

Arvind Youth Brands owns the popular denim brand that has been retailing on Flipkart and for more than six years.

With this investment, the Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points, the e-commerce platform said in a statement.

“We look forward to partnering with the team at Arvind Youth Brands to continue to grow the market for its portfolio of products and enhance the strong brand equity that has been built over the last few decades,” said , Chief Executive Officer, Flipkart Group.

Arvind Fashions Ltd has a portfolio of renowned brands, both international and indigenous, like US Polo Assn., Arrow, , , , Flying Machine, , The Children’s Place and Ed Hardy.

It is also India’s leading beauty retailer in partnership with and owns and runs the value fashion retail chain, .

“Given the strong existing relationship with the Flipkart Group, and their presence in online fashion, it was an obvious choice for us to enter into this engagement through which Flipkart and Myntra will be our preferred online partner for the Flying Machine brand,” said J. Suresh, Managing Director and Chief Executive Officer of Arvind Fashions.