The Competition Commission of India (CCI) has given its approval for the acquisition of TCNS Clothing Co. Limited by Aditya Birla Fashion and Retail Limited.
The proposed combination involves the acquisition of 51 per cent of the expanded share capital of TCNS Clothing Co. Limited by Aditya Birla Fashion and Retail.
Aditya Birla Fashion and Retail is a listed company and a part of the renowned Aditya Birla conglomerate. The company operates in the retail sector, specialising in branded products within the apparel, footwear, and accessories segment. Its operations encompass retail stores, online retail platforms, and e-commerce marketplaces.
On the other hand, TCNS Clothing Co. is also a listed company that focuses on the manufacturing, distribution, and sale of women's apparel, jewelry, footwear, and beauty products. It owns several well-known brands, including W, Aurelia, Wishful, Elleven, and Folk Song. Additionally, TCNS Clothing Co. is engaged in wholesale cash and carry trading, including sales through franchisee outlets, in the aforementioned product categories.
With the CCI's approval, Aditya Birla Fashion and Retail Limited will gain a majority stake in TCNS Clothing Co. Limited, allowing them to further strengthen their presence in the retail industry. This acquisition presents an opportunity for Aditya Birla to expand its portfolio of brands and tap into TCNS Clothing Co. Limited's established market position.