Mumbai: Aditya Birla Fashion & retail has increased its share Goodview FashionManufacturers and sellers of ethnic couture brands Tarun Tahilianiincreased from 33.5% to 51%. The company bought an additional 17.5% stake from the existing shareholders of Goodview for Rs 127 crore.
Following this transaction, Goodview has become a subsidiary of the company from an associate company of Aditya Birla Fashion. Incorporated in 1996, Goodview had a turnover of Rs 148 crore in FY24. Its turnover grew from Rs 64 crore in FY22 to Rs 105 crore in FY23. No regulatory approval is required for this transaction.
In 2021, Aditya Birla Fashion bought a 34% stake in Goodview for Rs 67 crore. At that time, it also acquired an option to increase its stake in Goodview to 51% within a few years. Earlier, the company had acquired majority stakes in Sabyasachi, apparel brand Shantanu & Nikhil and Jaipur.
Following this transaction, Goodview has become a subsidiary of the company from an associate company of Aditya Birla Fashion. Incorporated in 1996, Goodview had a turnover of Rs 148 crore in FY24. Its turnover grew from Rs 64 crore in FY22 to Rs 105 crore in FY23. No regulatory approval is required for this transaction.
In 2021, Aditya Birla Fashion bought a 34% stake in Goodview for Rs 67 crore. At that time, it also acquired an option to increase its stake in Goodview to 51% within a few years. Earlier, the company had acquired majority stakes in Sabyasachi, apparel brand Shantanu & Nikhil and Jaipur.