CCI okays Flipkart’s Rs 1,500 cr stake in Aditya Birla Fashion and Retail

The Competition Commission of India (CCI) on Wednesday approved the acquisition of a 7.8 per cent minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Private Ltd. The competition watchdog made the announcement in the evening on Twitter.

Last October, Flipkart Group and Aditya Birla Fashion and Retail Limited (ABFRL) formed a new strategic partnership aimed at enhancing the consumer fashion experience. Through an investment of Rs 1,500 crore, Flipkart Investments said it will acquire about 7.8 per cent stake in ABFRL. The companies have partnered to leverage synergies in the fashion segment.

Through this partnership, Flipkart Group will strengthen the range of brands offered on its e-commerce platforms Flipkart and Myntra. This would deepen its relationship with ABFRL, and enhance the range of premium international and Indian brands on offer.