The Competition Commission of India (CCI) has accorded its approval to Aditya Birla Fashion and Retail for acquisition of TCNS Clothing (TCNS) on June 27, 2023. The completion of acquisition of TCNS remains conditional upon fulfilment of other conditions and subject to necessary statutory, regulatory, and other approvals, as may be required under applicable laws and regulations. Earlier, the company had entered into definitive agreements to acquire TCNS Clothing.
Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company's brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.
