Arvind Fashions Limited (AFL), India’s leading casual wear and denim company, announced its decision to acquire Flipkart Group’s stake for Rs 135 crores (~$15.02 million), in Arvind Youth Brands Pvt. Ltd. (AYBPL), making it a wholly owned subsidiary.
Over the last five years Flying machine has re-established as a well-accepted brand on the digital channels. The partnership with the Flipkart group helped Flying Machine become one of the top casual wear brand on digital platforms, catering to the fashion-conscious youth of India.
- Amisha Jain, Managing Director & Chief Executive Officer of Arvind Fashions, said, “We are thankful to the Flipkart Group for their support in building Flying Machine into a brand of choice on digital channels. Our relationship with the Flipkart group will continue ensuring consumers can still shop Flying Machine on its platforms. The brand will also be available to consumers on other digital channels and portals.”
