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26-September-2015

Aditya Birla Private Equity ( ABPE ) has picked up a minority stake in Creative Lifestyles, the flagship company of the Mumbai-based Creative Garments group.

Aditya Birla Private Equity has invested for a minority stake in Creative Lifestyles Pvt Ltd, with a valuation of over Rs 300 crore, the latter said in a statement issued in Mumbai Creative Lifestyle is the owner of women's apparel brands, 109F, Fusion Beats and O2xygen.

ABPE has invested through its Sunrise Fund. The consumption space to which Creative belongs is one of the four stated focus areas of the fund.

Commenting on the investment, D Muthukumaran, CEO of ABPE, said, "We are excited to be part of the growth story at Creative Lifestyle.

"In the last 9 years, the Creative team has built up a strong presence in women's branded apparel segment, which we believe has high potential for exponential growth in the coming years".

Birendra Agarwal, chairman at Creative Lifestyle, said, "We believe our partnership with ABPE will help in taking the company to the next level on the back of an impressive growth we have already achieved since inception in 2006.

"We will benefit from the right impetus, drive and experience and we are looking forward to working closely with the Aditya Birla team to fully exploit our potential."

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