The Competition Commission of India (CCI) on Tuesday approved the acquisition of TCNS Clothing Co Limited by Aditya Birla Fashion and Retail Limited.
The proposed combination involves acquisition of 51 per cent of the expanded share capital of TCNS Clothing Co Limited by Aditya Birla Fashion and Retail Limited.
Aditya Birla Fashion and Retail Limited is a listed company and is part of the Aditya Birla conglomerate. It is engaged in retailing of branded products within the apparel, footwear and accessories segment, through its retail stores, online retail platforms, and e-commerce marketplaces.
TCNS Clothing is also a listed company engaged in the business of manufacturing, distribution and sale of women’s apparel, jewellery, footwear, and beauty products, currently undertaken under the brands ie, W, Aurelia, Wishful, Elleven and Folk Song. TCNS Clothing is also engaged in the business of wholesale cash and carry trading (including sale through franchisee outlets) of products in the aforementioned categories.