Arvind is in advanced talks to acquire Sequoia Capital-funded ecommerce company Freecultr, becoming the latest brickand-mortar store operator to snap up troubled online ventures.
The textile-to-retail conglomerate is currently carrying out due diligence of the online fashion and lifestyle brand and a deal is expected in the coming months. Freecultr will be acquired by Arvind Internet, the conglomerate’s online arm that is spearheaded by Kulin Lalbhai, son of chairman Sanjay Lalbhai.
Arvind is India's largest integrated textile player and is one of the oldest and most respected groups in the Textile Business in India. The company is also one of the largest producers of denim fabrics and is supplier to a large number of fashion brands in the world.
