Mumbai: Aditya Birla non-public fairness has picked up a minority stake in innovative life, the flagshipcompany of the Mumbai-based innovative clothes group
Aditya Birla personal fairness has invested for a minority stake in innovative existence Pvt Ltd, with a valuation of over Rs 300 crore, the latter said in a announcement issued right here, with out disclosing theconsideration.
creative life-style is the owner of ladies‘s clothing manufacturers, 109F, Fusion Beats and O2xygen.
Aditya Birla private equity has invested through its dawn Fund. The intake area to which innovativebelongs is one of the four stated attention areas of the fund.
innovative life-style changed into founded in 2006 and Birendra Agarwal teamed up with enterpriseveteran Rahul Mehta to set up innovative way of life to foray into women‘s branded garb. Commenting on the investment, D Muthukumaran, CEO of Aditya Birla non-public equity, said, “we are excited to be part of the growth story at innovative way of life.
“in the remaining 9 years, the innovative team has constructed up a sturdy presence in girls‘s brandedclothing phase, which we accept as true with has excessive ability for exponential growth within thecoming years”.
Birendra Agarwal, chairman at innovative way of life, stated, “We trust our partnership with Aditya Birlaprivate equity will help in taking the employer to the next stage at the lower back of an outstandingboom we have already achieved when you consider that inception in 2006.
“we are able to enjoy the proper impetus, power and experience and we’re looking ahead to runningclosely with the Aditya Birla group to fully exploit our capacity.”
The logo 109F, launched in 2006, which caters to casual western put on, has presence in over 366 stores,which includes 35EBOs and 331 huge format shops. Fusion Beats, an indo western offering catering to the Indian girls, released in 2011-12, sells across 10 EBOs and 200 LFOs, the release stated.