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July 5, 2016

Aditya Birla Fashion and Retail purchases Forever 21’s franchise in India

Aditya Birla Fashion and Retail (ABFRL) has purchased international clothing retailer Forever 21's franchise in India for $26m.

Aditya Birla Fashion and Retail (ABFRL) has purchased international clothing retailer Forever 21’s franchise in India for $26m.

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Forever 21 has more than 730 stores in 48 countries, including Australia, the US, China, Brazil, Canada and France.

The retailer operates brands such as Forever 21, XXI Forever, Love 21 and Heritage.

"The transaction involved acquisition of the Forever 21 undertaking of Diana Retail with effect from 1 July through a business transfer agreement not share transfer."

In a Bombay Stock Exchange filing, ABFRL said: "The company has on Tuesday executed a business transfer agreement with Diana Retail and DLF Brands for acquisition of the business undertaking of Diana Retail under the Forever 21 brand and also through e-commerce channel on a going concern basis, in the Indian market."

Diana Retail is the Indian franchisee of Forever 21.

ABFRL also stated: "The transaction involved acquisition of the Forever 21 undertaking of Diana Retail with effect from 1 July through a business transfer agreement not share transfer."

In May, the firm stated that it will sign a binding MoU with Forever 21 to purchase the online and offline rights for India.

ABFRL was established after the merger of the apparel businesses of Aditya Birla Group, comprising Aditya Birla Nuvo, Madura Fashion unit and ABNLs units, including Pantaloons Fashion and Retail Ltd and Madura Garments Lifestyle Retail Company.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.