Aditya Birla Fashion will pay ₹1,650 billion for a 51% stake in TCNS Clothing

Aditya Birla Fashion To Acquire 51% Stake In TCNS Clothing for ₹1,650 crore

May 8, 2023: Aditya Birla Fashion and Retail Ltd. (ABFRL) has announced its plan to acquire a 51% stake in TCNS Clothing, the makers of popular Indian ethnic wear brands.

The deal will involve ABFRL paying Rs. 1,650 billion for the controlling stake in TCNS Clothing, marking one of the biggest acquisitions in the Indian retail industry.

The acquisition is set to strengthen ABFRL’s position in the ethnic wear segment, which has been growing rapidly in India.

The company’s existing portfolio includes well-known fashion brands such as Louis Philippe, Van Heusen, Allen Solly, and Peter England.

With the addition of TCNS Clothing’s popular ethnic wear brands, ABFRL is set to become a dominant player in the Indian apparel market.

What sets this acquisition apart is the sheer size of the deal, which marks a significant milestone for both companies.

ABFRL’s investment in TCNS Clothing is a testament to the latter’s success in building a strong brand presence and customer base in the highly competitive ethnic wear segment.

In a statement, ABFRL’s CEO, Ashish Dikshit, expressed his enthusiasm for the acquisition, stating that “this strategic partnership will further strengthen our position as India’s leading fashion and retail conglomerate.

We are excited to bring TCNS Clothing’s popular brands under our umbrella and look forward to leveraging their expertise to drive growth and create value for our stakeholders.”

The acquisition is subject to regulatory approvals and is expected to be completed by the end of June 2023.

With the combined strengths of ABFRL and TCNS Clothing, the Indian fashion industry is set for an exciting new chapter.

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