Flipkart invests $35 million in Arvind Youth Brand
Flipkart announced investment of $35 Mn for minority stake in Arvind Youth Brands which owns Flying Machine brand.
Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points.
"Flying Machine is a brand that is known in households across India, popular with the youth and synonymous with value and style. Through this investment, we look forward to partnering with the team at Arvind Youth Brands to continue to grow the market for its portfolio of products and enhance the strong brand equity that has been built over the last few decades," said Kalyan Krishnamurthy, Chief Executive Officer of Flipkart Group.