Aditya Birla Fashion and Retail Ltd
which retails brands such as Louis Philippe, Peter England and Van Heusen, has
acquired ethnic apparel and lifestyle retailer Jaypore for Rs. 110 crore.
The deal will help ABFRL that also
retails men and women’s western wear to tap into the fast-growing ethnic
apparel market. Ethnic wear is the largest segment in the Indian fashion
apparel market. While ABFRL has built a diversified portfolio of brands across
different segments, ethnic wear space is currently under-represented.
Jaypore was set up in 2012. The
company started out as an online platform to service the US market. However,
the co-founders saw a huge demand coming from the domestic market and Jaypore
was launched in India in 2013. The company sells apparel and
accessories, and has a presence in both online and offline retail. It has two
stores—one each in Delhi and Mumbai—and sells a curated collection of handmade
and handcrafted apparel, jewelry and home textiles sourced from across India
through its own website. The brand sells to over 60 countries.
ABFRL
that also runs the fashion departmental store chain Pantaloons posted a
turnover of
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