India’s Flipkart buys over $200 million stake in Aditya Birla Fashion and Retail

Flipkart is acquiring a 7.8% stake in Aditya Birla Fashion as the Walmart-owned Indian e-commerce firm makes further push into the fashion category in one of the world’s largest retail markets.

The e-commerce group will pay $203.8 million for its stake in Aditya Birla Fashion and Retail, a conglomerate that operates over 3,000 stores including the Pantaloons brand. As part of the “landmark partnership,” Flipkart will also sell and distribute various Aditya Birla Fashion and Retail’s brands products.

“This partnership is an emphatic endorsement of the growth potential of India,” said Kumar Mangalam Birla, Chairman of Aditya Birla Group, which operates the fashion retail firm in a filing to the stock exchange. “It also reflects our strong…

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