Upon completion, Arvind Youth Brands or AYBPL, which runs the Flying Machine brand, will now become wholly-owned subsidiary of the company
Aimed at streamlining operations, Arvind Fashions, a casual and denim player will acquire the entire 31.25 per cent stake of Flipkart India in its denim-focused entity that runs the Flying Machine brand. The deal is valued at Rs 135 crore, the company said in a regulatory filing on Monday.
“We wish to inform you that Arvind Fashions has entered into a Share Purchase Agreement (SPA) with Flipkart India to acquire the seller’s entire shareholding i.e. 31.25 per cent on a fully diluted basis in Arvind Youth Brands (subsidiary of the company/AYBPL),” the exchange filing noted.
Arvind Youth Brands or AYBPL, which runs the Flying Machine brand, will now become its wholly-owned subsidiary. Over the last five years, Flying machine has re-established as a well-accepted brand on the digital channels. The partnership with the Flipkart group helped Flying Machine become one of the top casual wear brand on digital platforms, catering to the fashion-conscious youth of India, the statement noted.
“We are thankful to the Flipkart Group for their support in building Flying Machine into a brand of choice on digital channels. Our relationship with the Flipkart group will continue ensuring consumers can still shop Flying Machine on its platforms. The brand will also be available to consumers on other digital channels and portals,” stated Amisha Jain, Managing Director (MD) and Chief Executive Officer, Arvind Fashions.
The turnover of AYBPL for the financial year ended 31 March 2025, was Rs 432.16 crore. The company will acquire 31.25 per cent of the total shareholding of AYBPL on a fully diluted basis, comprising of 1 equity share of Rs 10 each and 58,95,852 Compulsory Convertible Preference Shares (CCPS) of Rs 100/- each, upon closing of the transaction. Upon completion of the acquisition, the company, along with its wholly owned subsidiary Arvind Lifestyle Brands, will hold 100 per cent of the total shareholding in AYBPL on a fully diluted basis
