Aditya Birla Fashion and Retail (ABFRl) on Tuesday said it will acquire global clothing brand ‘Forever 21’ in the Indian market for $26 million (around Rs 175.52 crore). “The company has on Tuesday executed a business transfer agreement with Diana Retail and DlF Brands for acquisition of the business undertaking of Diana Retail.
Under the Forever 21 brand and also through e-commerce channel on a going concern basis, in the Indian market,” ABFRl said in a BSE filing. Diana Retail is the franchisee of Forever 21 brand in India.