Old money, says deal street, is in hot pursuit of fast fashion for the young.
The aditya Birla group, founded before the crown formally began her reign over India, is in talks with danish apparel company Bestseller A/S to acquire a significant stake in the Indian arm of the fashion house that owns vero Moda, Jack & jones, and only – or labels for the millennials. Aditya Birla fashion and retail is in “active discussion” to acquire 49% stake in Bestseller India, and is offering attractive valuations, according to one of the three industry executive aware of the development.
“Aditya Birla Group sees the value being created by Reliance Brands and Arvind Brands because of Tommy hilfiger, Gap, children ‘s place and Sephora,” sahni said. ” Now it is waking up to the reality that there is value in running international brands.”