Flipkart, Amazon hold talks to acquire stake in Aditya Birla Fashion

BENGALURU: E-commerce majors Flipkart and Amazon are in talks with Aditya Birla Fashion and Retail Ltd. (ABFRL) for a minority stake in the fashion retailer, which continues to seek investments either through a hive-off or partnerships, said individuals directly aware of the discussions.

With fashion becoming a key category for both these e-commerce firms, after smartphones and electronics, Amazon and Flipkart might look at plugging the gaps across its inventory base, by launching value-products focused towards new buyers, and bringing more assortments on to their platform, said a person, who didn’t want to be named.

“ABRFL has been struggling from the impact of covid and has been in the market for some time to raise new funds. It has been reaching out to investors as well as brands for a potential investment,” said a person aware of the discussions.