Aditya Birla Fashion's subsidiary to buy stakes in 3 fashion brands
The wholly-owned unit of Aditya Birla Fashion Retail Ltd, TMRW is set to buy majority stakes in three startups. Move is seen as the first step towards creating one of India’s largest portfolios of disruptor brands in the fashion and lifestyle industry.
Aditya Birla's 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.
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