ABRFL to acquire ethnic wear brands Jaypore and TG Apparel & Decor
02 December 2024, Mumbai
To strengthen its position in India’s fast growing branded fashion market, Aditya Birla Fashion and Retail (ABFRL) plans to acquire two leading ethnic wear brands, Jaypore and TG Apparel & Décor.
This acquisition aligns with ABFRL’s strategy to diversify and enhance its portfolio. The company’s board has approved share purchase agreements with both these brands, signaling a major move into the ethnic fashion space.
Known for its exclusive ethnic fashion offerings, Jaypore offers a mix of in-house designs and third-party labels, catering to a niche but expanding customer base. Acquiring Jaypore allows ABFRL to tap into this loyal audience and broaden its market reach.
Similarly, TG Apparel & Decor operates in ethnic fashion through a mix of online platforms and physical stores. The brand’s omnichannel presence complements ABFRL’s strategy to create seamless shopping experiences, both online and offline.
Emphasising the importance of this acquisition, Ashish Dikshit, Managing Director, ABFRL, states, the acquisition is a strategic step to fill the gap of ethnic wear, a segment underrepresented in the company’s portfolio. The acquisition will help ABFRL consolidate its leadership position in India’s branded fashion market besides capitalising on the increasing demand for ethnic styles in the country, he adds.
