Stakes In Tarun Tahiliani's Brand Acquired By ABFRL
Aditya Birla Fashion & Retail (ABFRL), has acquired 33.5% stakes in fashion designer Tarun Tahiliani's Goodview Properties Private Limited (GPPL). The all-cash deal is expected to be completed in around 45-60 days. Under the deal the two firms would form a new entity that will launch a men’s ethnic wear brand at accessible price points.Â
The new brand in which ABFRL would hold 80% stake while Tahiliani will hold the remaining 20% aims to build a Rs 500 crore business in the next 5 years. The entity aims to have a network of 250 stores in the said period. The brand will roll out the first set of retail stores by September. ABFRL has a network of more than 3,000 stores that sell clothes and accessories from brands like Louis Philippe, Van Heusen, Allen Solly among others.