AB Fashion Looks For A Bestseller In India
Aditya Birla Fashion and Retail is in active discussions to acquire 49 per cent stake in Danish apparel maker Bestseller India, and is offering attractive valuations, according to one of the three industry executives aware of the development.
Aditya Birla Fashion said it does not comment on market speculations, while Bestseller confirmed business discussions with the Indian group. “Our pan-India presence over the last two years has increased and we hope to bring in more brands to the market in the years ahead,” Vineet Gautam, chief executive of Bestseller India, said.
“As a result, we have seen increased interests from multiple key Indian partners and business houses, Aditya Birla being one of them.”
Talks with Bestseller are part of Aditya Birla Fashion’s strategy to enhance its portfolio of international brands, as the company seeks to cater to the changing taste of the urban consumer.
Aditya Birla Fashion owns top labels in formal menswear, such as Louis Philippe, Van Heusen, and Allen Solly. It also owns the Pantaloons department stores. The company said it is a “market leader” in India’s branded apparel market, and that it has a “rich portfolio of the largest and the most profitable brands in the country”.
“These brands enjoy unparalleled consumer franchise with their distinctive brand and product proposition as well as wide reach across channels,” an Adiyta Birla Fashion spokesperson said in an emailed response. “Our strategy is focused around continuous investment and growth of these brands.”
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