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Aditya Birla PE buys stake in Creative Lifestyles

By Religare
|

Aditya Birla Private Equity announced that it has gained a minority stake in Creative Lifestyles as it is expanding its foray into fashion retail following its decision to merge fashion retail business under Madura Fashions and Madura Lifestyle with Pantaloons Fashion and Retail

Creative Lifestyles owns women's apparel brands like 109F, Fusion Beats and O2xygen.

Birendra Agarwal, Chairman, Creative Lifestyle said, "The private equity has valued the company at Rs.300 crore and the investment was made through its Sunrise Fund."

 

He added, "The partnership with Aditya Birla Private Equity will help the company achieve the growth phase and benefit from the right impetus and experience working closely with the Aditya Birla team."

The company said that the Sunrise Fund of the Birla Group aims at offering growth capital to proven business concepts in innovation sunrise sectors with specific themes which include lifestyle, life skills and education, life care and applied technologies.

The fund looks for substantial minority stakes, while investing primarily in unlisted India-centric business with a potential to play the role of an active investor.

Story first published: Monday, September 28, 2015, 12:20 [IST]
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