NEW DELHI, Dec 29: Arvind Fashions Ltd on Monday said it will acquire Flipkart group’s 31.25 per cent stake in Arvind Youth Brands Pvt Ltd for Rs 135 crore.
Arvind Youth Brands Pvt Ltd (AYBPL) is currently engaged in the business of wholesale and retail of apparel and accessories under the brand name ‘Flying Machine’. It had a turnover of Rs 432.16 crore in the financial year ended March 31, 2025, the company said in a regulatory filing.
Over the last five years Flying machine has re-established as a well-accepted brand on digital channels. The partnership with the Flipkart group helped Flying Machine become one of the top casual wear brands on digital platforms, catering to the fashion-conscious youth of India, it said in a separate filing.
“Our relationship with the Flipkart group will continue ensuring consumers can still shop Flying Machine on its platforms. The brand will also be available to consumers on other digital channels and portals,” Arvind Fashions Ltd (AFL) Managing Director & CEO Amisha Jain said.
AFL will acquire 31.25 per cent of the total shareholding of AYBPL on a fully diluted basis, comprising of 1 equity share of Rs 10 each and 58,95,852 compulsory convertible preference shares (CCPS) of Rs 100 each, upon closing of the transaction, which is expected to be completed on December 29, 2025, the company said.
Post the acquisition, AYBPL will become a wholly-owned subsidiary of the company, AFL added. (PTI)
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