Aditya Birla Fashion and Retail Ltd (ABFRL), a retail arm of Aditya Birla Group has acquired the rights for California, US, based fashion retailer Forever 21 to acquire its India business from its current franchisee, Diana Retail Private Ltd, for an unspecified amount. With the help of this acquisition, ABFRL will further strength its leadership position in the branded fashion market.
The deal includes the online and offline rights of Forever 21 for the Indian market and its existing store network in the country. The partnership of Forever 21 and ABFRL will help establish Forever 21 as one of the largest women wear brand in the country. Founded in 1984, presently, Fashion retailer Forever 21 has a network of more than 700 stores across the world.
So let’s discuss some questions related to this post :
1. Name the Indian fashion and retail giant which has acquired the India’s right of ‘Forever 21’ ?
2. The fashion retail company ‘Forever 21’ is having its headquarter at which place ?
Courtesy : Business Standard