Flipkart Group invests Rs 260 Crores for minority stake in Arvind Youth Brands . On Thursday, the Flipkart E-commerce company reported invests of Rs 260 Crores. In the newly established Arvind Youth Brands subsidiary. Which is of Arvind Fashion, operated by the Flying Machine brand.
However, the companies said in a joint statement on Thursday. Through this investment, Flipkart Group and Arvind Fashions will jointly work. On the development of products at attractive prices.
Although, for over six years, Arvind Youth Flying Machine has retailing on Flipkart and Myntra platforms. Furthermore, Flipkart said that it would continue to work with Arvind Youth Brands. And to expand its product business plan.
Customary approvals and procedures are required for the transaction. But, throughout this deal, Metta Capital Advisors worked as AFL’s financial advisors.
J Suresh, Managing Director and Chief Executive Officer of Arvind Fashions stated. “The partnership with the Flipkart Group will help us. Also in accelerating our online growth strategy as we focus our efforts on developing an omni-channel retail approach. For Arvind Youth Brands and Flying Machine.”
