Aditya Birla Fashion to cut Forever 21 biz

The Los Angeles-based brand which was acquired two years ago by the company, reported a 14% decline in third quarter revenue for Forever 21.
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Aditya Birla Fashion & Retail (ABFRL) said it is downsizing operations of the Forever 21 brand by closing or resizing the legacy stores across the country due to falling sales from the fast fashion brand.

The Los Angeles-based brand which was acquired  for exclusive online and offline rights for in India two years ago by the company, reported a 14% decline in third quarter revenue for Forever 21 to Rs 99 crore, from Rs 115 crore, a year earlier.

 
 
 
 
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