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Kanoria’s African venture
Kanoria Chemicals & Industries Ltd is back in textile business after a gap of two decades. The company is in talks with H&M, Peter Van Heusen, Velocity, Raymonds and Arvind to sell denim from its plant in Ethiopia. The company has made an investment of about $50 million in the African country to take advantage from duty-free exports to the US and the European Union.
Arvind acquires 49 per cent stake in Calvin Klein India
Sanjay Lalbhai-controlled Arvind has finalised a deal to buy out 49 per cent stake jointly held by the Murjani Group and the US-based private equity fund Matrix Partners in Calvin Klein India for close to Rs 100 crore.
Branded Fashion Player
Aditya Birla Nuvo Ltd (ABNL), part of the Aditya Birla group, is well on its way to become the largest integrated branded fashion player in the country
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