Last updated : July 22, 2020 10:50 am
Flipkart has invested Rs 260 crore to pick a minority stake in Arvind Fashions’ recently-formed subsidiary Arvind Youth Brands.
After completion of the customary conditions precedent, Arvind Lifestyle Brands
According to a PTI report; Earlier this month, Arvind Fashions had informed exchanges that Flipkart Group had invested Rs 260 crore to pick a minority stake in its subsidiary Arvind Youth Brands.
Flying Machine has been retailing on the group’s platforms of Flipkart and Myntra for more than six years.
India is considered to be the world’s second largest internet market with a range of players in the online category. Over the years Flipkart has managed to stay ahead of the game through various acquisitions in terms of Myntra and Jabong and now through its investment in Arvind Fashion’s ‘Arvind Youth Brands’.