Kumar Mangalam Birla led Aditya Birla Fashion and Retail has acquired Forever 21

Q.  Aditya Birla Fashion and Retail has acquired which brand from Diana Retail Pvt Ltd?
- Published on 06 Jul 16

a. Forever 21
b. Forever 22
c. Forever 23
d. Forever 24

ANSWER: Forever 21
 
Kumar Mangalam Birla led Aditya Birla Fashion and Retail has acquired Indian business of international clothing brand “Forever 21” from Diana Retail Pvt Ltd, the US based company’s local franchise partner for over INR 175 crore or USD 26 million.
  • Transaction involved acquisition of the Forever 21 Undertaking of Diana Retail from July 1 through business transfer agreement and not share transfer.
  • Consideration for acquisition is USD 26 million
  • Forever 21 will form part of the Madura Fashion & Lifestyle division
  • Forever 21 is among the fastest growing fashion retailers in the world with a network of more than 700 stores worldwide.

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