Pantaloons Fashion and Retail has been rechristened to Aditya Birla Fashion and Retail Ltd as a result of its acquisition by Aditya Birla Nuvo Ltd (ABNL).
The change in name came into effect on January 12. The company had earlier announced the merger of all of its apparel brands into one entity of the same name in May 2015.
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“The aforesaid name change is further to the effectiveness of the composite scheme of arrangement between the company, ABNL, Madura Garments Lifestyle Retail Company Limited and their respective shareholders and creditors,” the company said in a statement.
In this plan, the Aditya Birla Nuvo Ltd (ABNL) and Madura Garments Lifestyle Retail would become a part of Pantaloons Fashion & Retail Ltd (PFRL). Madura owns retail brands such as Van Heusen, Louis Philippe, Allen Solly etc.
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Aditya Birla Nuvo Ltd (ABNL) had earlier made a pact with Future Group to revitalise Pantaloons by infusing Rs 1,600 crore into it and become a major stakeholder in store chain.
