Forever 21, Aditya Birla Fashion and Retail team up for India retail

Forever 21 founder Don Chang has joined hands with Aditya Birla Fashion and Retail to have a bigger say in the world's fastest growing economy where its rivals Zara and H&M too have aggressive plans. Birla formalised a deal to clinch a 12-year exclusive online and offline right to the Forever 21 brand in India. This is possibly Birla's most ambitious move in fashion retailing after a surprise entry into the business following the acquisition of Madura Garments in 1999. The American label is expected to give Birla (strong in formal men’s wear) more heft in women’s wear retailing, besides adding muscle to its fledgling e-commerce venture, it is believed.

With a plan to accelerate its expansion, Birla is taking charge of Forever 21's Indian operations. Forever 21's erstwhile partner DLF operated 12 stores, while Birla hopes to take the count to 20 by the end of the current calendar. Spanish retailer Zara that has a joint venture with the Tata Group tops the fast fashion charts in India with sales clocking Rs 721 crores in fiscal 2015. It operates over 16 stores in the country. Swedish giant H&M, a new entrant, currently has six stores with plans to add another six by the end of this year.