Aditya Birla Digital Fashion Ventures Limited (wholly owned subsidiary of Aditya Birla Fashion & Retail Limited) has made an investment of ₹155 crore in Styleverse Lifestyle Private Limited (Styleverse), to acquire a majority stake.
Khaitan & Co advised Aditya Birla Digital Fashion Ventures in this investment deal.
The core team consisted of Shourya Sengupta (Lead Partner), Sneh Lata (Principal Associate), Karishma Sethia (Associate) and Vibhav Seth (Associate), with assistance from the following:
Diligence Team: Shramana Dwibedi (Associate)
Intellectual Property: Shailendra Bhandare (Partner), Sourav Dan (Principal Associate) and Vaishali Adhikari (Associate).
Employment Aspects: Jeevan Ballav Panda (Partner), Meher Tandon (Senior Associate), Dhriti Mehta (Associate).
Styleverse is engaged in manufacturing and retailing of apparel under the brands ‘The Indian Garage Co.’, ‘Freehand’ and ‘Hardsoda’.
Styleverse has become a subsidiary of Aditya Birla Digital Fashion Ventures Limited and will become a part of Aditya Birla Digital Fashion Ventures Limited’s portfolio of digital-first brands under house of brands “TMRW”.
With this investment, Aditya Birla Digital Fashion Ventures Limited expands its portfolio in the casual wear space.
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