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The fast-fashion retailer couldn’t keep up with Chinese competitors.

The Emirati conglomerate has decided to aid the faltering Saudi firm, in what looks like one of the biggest retail alliances the two economies have seen in a long time.
The Elevation Capital-backed startup created a space for itself in premium women’s activewear. But growing further will take more than just funding. For starters, it could think beyond womenswear.
Long known to be conservative with cash, the Aditya Birla Group chairman is on an acquisition and expansion spree. A lot of it has to do with the sudden threat to his cement dominance—his pride and joy.