Flipkart’s storefront and cheque just the tailwind ABFRL needs
Synopsis
Flipkart’s ownership of about 8% in the company that leads in India’s formal wear can strengthen its balance sheet and accelerate growth, besides reducing leverage. Hence, a re-rating is on the cards.
Mumbai: The Upper Crust is all set to rule the Web.Louis Philippe, Van Heusen, Peter England and Allen Solly — collectively the biggest brands in men’s executive wear in the country — will now have a wider online play after Flipkart announced a partnership with Aditya Birla Fashion and Retail (ABFRL).Flipkart’s ownership of about 8 per cent in the company that leads in India’s formal wear can strengthen its balance sheet and accelerate growth,
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