Aditya Birla Fashion to acquire Forever 21 in India

Indian retail chain, Aditya Birla Fashion and Retail (ABFRL) on Tuesday said that it will acquire global clothing brand ‘Forever 21’ in the Indian market for $26 million (around ₹175.52 crore). A business transaction agreement was signed with the brand's franchisee Diana Retail and DLF Brands to acquire Forever 21's online and offline rights effective July 1, the company said.