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Fashion and lifestyle company Aditya Birla Fashion and Retail Ltd said that it will acquire Jaypore E-Commerce Private Ltd, which sells "handmade, handwoven and handcrafted apparel, jewellery, home textiles and accents", for Rs 110 crore including debt. Aditya Birla Group did not break out the equity component of the company's valuation, nor did it give an extent of the debt that is being taken over. Instead, it said the enterprise valuation, which includes all the capital including equity and debt, is at Rs 110 cr. Established in February 2012, Jaypore E-Commerce Private Ltd sells home decor, accessories, jewelry, apparel, gifts, vintage items and other products online under its brand ‘Jaypore’. The company offers handcrafted contemporary apparel, accessories, and personal care products, silver and fashion jewelry and accessories. It also sells home textiles, including cushions, rugs and dhurries, quilts, bed linens, table linens, upholstery and curtains and kitchen and bath linens. Jaypore E-Commerce Private Ltd had an annual revenue of Rs 39 crore in FY19. The deal will be completed within 30-45 days, said Aditya Birla Fashion and Retail Ltd. Aditya Birla Fashion and Retail Ltd also acquired shares of New Delhi-headquartered apparels and accessories company TG Apparel and Decor Private Ltd worth Rs 25 lakh. Incorporated in 2015, TG Apparel had an annual revenue of Rs 33.7 crore in FY2019. Aditya Birla Fashion and Retail Ltd said that the acquisitions will help the company to strengthen its presence in ethnic apparels and accessories segment. “Ethnic wear is the largest segment in the Indian fashion apparel market. While Aditya Birla Fashion and Retail Ltd has built a diversified portfolio of brands across different segments, ethnic wear space is currently under-represented in our bouquet of offerings to consumers. The proposed acquisition is, therefore, a great strategic addition to our portfolio and gives us a strong footing in a segment that is growing in double digits”, said Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Ltd. “Jaypore is a brand with strong equity and with a differentiated offering of products based on Indian crafts. It provides a great platform for us to build a strong presence in the Ethnic segment and in accessories and home segment. This acquisition will further strengthen leadership position of Aditya Birla Fashion and Retail Ltd in the branded fashion space”, he added. Part of the USD 44.3 billion Aditya Birla Group, Aditya Birla Fashion and Retail Limited is engaged in providing branded fashion apparels and accessories and the retail sales of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. Its Madura Fashion & Lifestyle segment is engaged in manufacturing and distribution of branded fashion apparel and accessories, and comprises over 1,800 exclusive brand outlets (EBOs) and approximately 150 value stores. Its Pantaloons segment is engaged in retailing of apparel and accessories, and comprises over 160 stores, including one Pantaloons Kids store and approximately 30 factory outlets. The company's brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.

Tag: FASHION

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