Khaitan & Co Guides Aditya Birla Digital Fashion Ventures' Acquisition of Styleverse
Khaitan & Co Guides Aditya Birla Digital Fashion Ventures' Acquisition of Styleverse
Khaitan & Co advised Aditya Birla Digital Fashion Ventures on its investment of ₹155 crore in Styleverse Lifestyle Private Limited (Styleverse). This investment will give Aditya Birla Digital Fashion Ventures a majority stake in Styleverse, a company that manufactures and retails apparel under the brands The Indian Garage Co., Freehand, and Hardsoda.
Aditya Birla Digital Fashion Ventures is a wholly owned subsidiary of Aditya Birla Fashion & Retail Limited, one of India's largest fashion and retail companies. Aditya Birla Digital Fashion Ventures was established in 2022 to focus on investing in and developing digital-first fashion brands.
Styleverse, on the other hand, is a relatively new company, but it has quickly become a popular brand among young consumers in India. The company's products are known for their trendy designs and affordable prices.
The Khaitan & Co team advising Aditya Birla Digital Fashion Ventures on its investment in Styleverse was led by Shourya Sengupta (Partner) and included Sneh Lata (Principal Associate), Karishma Sethia (Associate), and Vibhav Seth (Associate). Assistance was provided by the Diligence Team (Shramana Dwibedi, Associate), Intellectual Property Team (Shailendra Bhandare, Partner; Sourav Dan, Principal Associate; and Vaishali Adhikari, Associate), and Employment Aspects Team (Jeevan Ballav Panda, Partner; Meher Tandon, Senior Associate; and Dhriti Mehta, Associate).
Styleverse is now a subsidiary of Aditya Birla Digital Fashion Ventures Limited and will join its portfolio of digital-first brands under the house of brands "TMRW."
Aditya Birla Digital Fashion Ventures Limited's investment in Styleverse expands its portfolio in the casual wear space.
