Flipkart buys into Arvind Youth Brands

Flipkart, the Walmart owned online commerce player, is investing Rs 260 crore in Arvind Youth Brands, the subsidiary of Arvind Fashions Ltd (AFL).

Arvind Youth Brands is Arvind Fashions’ recently formed subsidiary, which will own the Flying Machine brand.

“The Flipkart group and AFL strengthened their partnership through an investment of Rs 260 crore by Flipkart to purchase a significant minority stake in AFL’s recently formed subsidiary, Arvind Youth Brands, which will own the Flying Machine brand,” AFL said in a regulatory filing.