Aditya Birla Private Equity, has invested for a minority stake in Creative Lifestyles Private Limited, (Creative Lifestyle) with a valuation of over Rs. 300 crore. Creative Lifestyle is the owner of women’s apparel brands, 109F, Fusion Beats and O2xygen.Aditya Birla Private Equity, the investment arm of Aditya Birla Financial Services has invested through its Sunrise Fund.
The consumption space to which Creative Lifestyles belongs is one of the four stated focus areas of the fund.Founded in 2006, Creative Lifestyle is a flagship company of the Mumbai based Creative Garments Group which has been in operations since 1973. Birendra Agarwal teamed up with industry veteran Rahul Mehta to setup Creative Lifestyle, to foray into Women’s branded apparel.Commenting on the investment D Muthukumaran, CEO, Aditya Birla Private Equity said, “We are excited to be part of the growth story at Creative Lifestyle. In the last nine years, the Creative team has built up a strong presence in the Women’s branded apparel segment, which we believe has high potential for exponential growth in the coming years.”
Birendra Agarwal, Founder and Chairman, Creative Lifestyle stated, “We believe our partnership with Aditya Birla Private Equity will help in taking the company to the next level on the back of an impressive growth we have already achieved since inception in 2006. We will benefit from the right impetus, drive and experience and we are looking forward to working closely with the Aditya Birla team to fully exploit our potential.”
109F, launched in 2006, which caters to casual western wear, has presence in over 366 retail outlets including 35 EBOs and 331 large format stores. Fusion Beats, an indo-western offering catering to the Indian Women, launched in 2011-12 sells across 10 EBOs and 200 LFOs.
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