India, Dec. 29 -- Arvind Fashions Limited (AFL), India's leading casual wear and denim company, on Monday announced that it will acquire Flipkart Group's stake for Rs 135 crore in Arvind Youth Brands Pvt. Ltd. (AYBPL), making it a wholly owned subsidiary.
Over the past five years, Flying Machine has re-established itself as a strong and well-accepted brand on digital channels. The partnership with the Flipkart Group played a key role in positioning Flying Machine among the top casual wear brands on digital platforms, catering to India's fashion-conscious youth.
Commenting on the development, Amisha Jain, Managing Director & Chief Executive Officer of Arvind Fashions, said the company is thankful to Flipkart Group for its support in buildi...