Authentic Brands Group (ABG), the parent company of Los Angeles-based apparel retailer Forever 21, announced on Tuesday a strategic partnership with Dafiti to expand the brand’s presence across Brazil.
India’s Aditya Birla Fashion and Retail Ltd said on Wednesday it would buy a 51% stake in the Sabyasachi brand, best known for high-end wedding wear favoured by Bollywood celebrities and rich business families.
Frasers Group was reportedly racing to try to do a deal on Debenhams at the weekend, but reports also suggested that US-based Barneys owner Authentic Brands has both Debenhams and Arcadia in its sights.
Walmart Inc’s Flipkart will buy a 7.8 percent stake in Aditya Birla Fashion and Retail Ltd for 15 billion rupees ($204 million), the fashion retail company said, sending its shares up 6 percent on Friday.
J.Crew is closing all six of its UK locations, including the massive flagship on Regent Street, calling in liquidators to its British operation and will serve the British market via its global webstore.