Creative Lifestyle has an overall enterprise value of Rs 300 crore, ABPE has acquired 12 per cent stake through its Sunrise Fund at an investment of Rs 36 crore. The synergy between the acquirer and target companies is the consumption space to which Creative belongs. Interestingly, Women’s apparel space is one of the four stated focus areas of Sunrise Fund. “We are excited to be part of the growth story at Creative Lifestyle. In the last nine years, the Creative team has built up a strong presence in the women’s branded apparel segment, which we believe has high potential for exponential growth in the coming years,” said D Muthukumaran, Chief Executive Officer of ABPE.
Founded in 2006, Creative Lifestyle is a flagship company of the Mumbai-based Creative Garments group which has been in operations since 1973. Birendra Agarwal teamed up with industry veteran Rahul Mehta to setup Creative Lifestyle, to foray into women’s branded apparel and is currently a leading name in the industry.
“Our partnership with ABPE will help in taking the company to the next level on the back of an impressive growth we have already achieved since inception in 2006. We will benefit from the right impetus, drive and experience and we are looking forward to working closely with the Aditya Birla team to fully exploit our potential,” said Birendra Agarwal, Founder and Chairman at Creative Lifestyle.
The women‟s textile brand 109F was launched in 2006, which caters to casual western wear with presence in over 366 retail outlets including 35 exclusive brand outlets (EBOs) and 331 large format stores. Fusion Beats, an indo western offering catering to the Indian women, launched in 2011-12 sells across 10 EBOs and 200 large factory outlets (LFOs)