Walmart owned Flipkart will buy 7.8% stake in Aditya Birla Fashion & Retail Limited (ABFRL) for Rs 1,500 crore ($203.78 million). Aditya Birla Fashion & Retail runs brands like Pantaloons, Allen Solly, and Peter England.
Flipkart will also sell and distribute various Aditya Birla Fashion’s brands. Aditya Birla Group Chairman Kumar Mangalam Birla said, “This partnership is an emphatic endorsement of the growth potential of India”.
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