ABFRL looking for 49 percent stake in Bestseller India

Aditya Birla Fashion and Retail (ABFRL) is looking to buy a 49 per cent stake in Bestseller India. Bestseller India is the Indian arm of the Danish apparel company Bestseller and owns Vero Moda, Jack & Jones, and Only, brands that are aimed at millennials.

Bestseller India’s pan-India presence over the last two years has increased and it hopes to rope in more brands to the market in the years ahead. Aditya Birla Fashion’s strategy is to enhance its portfolio of international brands, as it seeks to cater to the changing tastes of urban consumers. It owns top labels in formal menswear, such as Louis Philippe, Van Heusen, and Allen Solly. These brands enjoy an unparalleled consumer franchise with their distinctive brand and product proposition as well as wide reach across channels.

Adiyta Birla also owns the department store Pantaloons. It is a market leader in India’s branded apparel market and has a portfolio of the largest and the most profitable brands in the country. However the fashion business of Aditya Birla is under pressure from investors to stitch together a winning formula, reflecting the latest trends in India’s fashion scene that has been redefined in the past few years by Zara and H&M.