Flipkart invests ₹260 crore in Arvind Youth Brands

New Delhi: Flipkart Group has bought a minority stake in Arvind Fashions Ltd’s (AFL) recently created subsidiary Arvind Youth Brands for ₹260 crore. The company, which owns denim brand Flying Machine, plans to build the brand online and in India’s smaller markets.

The four-decade old Flying Machine brand has been selling on Walmart-backed Flipkart and Myntra for over six years.

“Through this investment, the Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points,” Arvind Fashions Ltd said in a filing to the exchanges on Thursday.