Flipkart, Amazon race to bag stake in Aditya Birla Fashion and Retail

Walmart-owned Flipkart Group as well as ecommerce major Amazon have held separate talks with Aditya Birla Fashion and Retail NSE -0.83 % (ABFRL), which owns brands like Pantaloons, Allen Solly and Peter England, for a potential investment, according to three people aware of the matter.

The two ecommerce companies are vying to acquire a minority stake in the Birla group company, sources said, at a time when offline retailers, especially in fashion and apparel segment, have been severely hurt by the coronavirus pandemic and the resulting lockdown.