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Flipkart Group on Thursday announced it has invested Rs 260 crore to purchase a significant minority stake in Arvind Youth Brands, a subsidiary of Arvind Fashions (AFL).

Arvind Youth Brands owns the popular Flying Machine denim brand that has been retailing on Flipkart and Myntra for more than six years.

With this investment, the Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points, the e-commerce platform said in a statement.

“We look forward to partnering with the team at Arvind Youth Brands to continue to grow the market for its portfolio of products and enhance the strong brand equity that has been built over the last few decades,” said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group.

Arvind Fashions Ltd has a portfolio of renowned brands, both international and indigenous, like US Polo Assn., Arrow, GAP, Tommy Hilfiger, Calvin Klein, Flying Machine, Aeropostale, The Children’s Place and Ed Hardy.

It is also India’s leading beauty retailer in partnership with Sephora and owns and runs the value fashion retail chain, Unlimited.

“Given the strong existing relationship with the Flipkart Group, and their presence in online fashion, it was an obvious choice for us to enter into this engagement through which Flipkart and Myntra will be our preferred online partner for the Flying Machine brand,” said J. Suresh, Managing Director and Chief Executive Officer of Arvind Fashions.

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Greater transparency in fashion supply chains will create new incentives for companies to change the way they do business and even how they view themselves as an organisation. If so, adoption of blockchain is only the beginning as the fashion industry may be entering a new era with vastly different forms of production and consumption.

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The large value fashion retailer sells in-house brands like Excalibur, Colt, Newport, Karigari, Anahi, Sugr, Ruggers, along with licensed brands such as Elle Studio and Cherokee.

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The brand is taking expansion slowly

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Over the years, Celio has innovated in several diverse aspects. While some of those innovations were directed at building a better business, others were meant to create a more socially-accountable organisation. For example, we ensure ethical sourcing; we have tied up with responsible vendors who are socially accountable with SA8000 and Oeko compliance. Recently, we have launched the Go Green Denims range, which are environment-friendly and uses less water and electricity.

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According to Biyani, footwear today is no longer category defined for just women. It’s equally important for men – almost as important as buying trousers. With brands like Koovs, Lee Cooper, Clarks, Converse under one roof, Future Group claims to be the number two footwear retailer in India.

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