MUMBAI:
Aditya Birla Fashion
& Retail has raised its shareholding in
Goodview Fashion
, manufacturer and seller of ethnic couture brand
Tarun Tahiliani
, to 51% from about 33.5%. The company bought the additional 17.5% from existing shareholders of Goodview for Rs 127 crore.
Following the transaction, Goodview has gone from being an associate of Aditya Birla Fashion to becoming a subsidiary of the company.
Incorporated in 1996, Goodview had a turnover of Rs 148 crore in FY24. Its turnover jumped from Rs 64 crore in FY22 to Rs 105 crore in FY23. The transaction requires no regulatory approval.
In 2021, Aditya Birla Fashion had acquired 34% in Goodview for Rs 67 crore. At that time, it also acquired the option to increase its stake in Goodview to 51% within a few years. Previously, the company acquired a majority stake in Sabyasachi, apparel brand Shantanu & Nikhil, and Jaypore.
