Kumar Mangalam Birla-owned Aditya Birla Fashion and Retail (ABFRL) today raised ₹2,198 crore from Singapore’s sovereign wealth fund GIC in exchange for 7.5% stake in the company. The fashion retailer houses a large number of Indian and international brands like Sabyasachi, Forever21, Ralph Lauren, Van Heusen, Allen Solly and more.
The company said customers can still order in person, but mobile orders via the app accounted for 25% of the company's total at owned locations last quarter.