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The fast-fashion retailer couldn’t keep up with Chinese competitors.
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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.
The Indian fast-fashion market is not what it was when the Chinese brand exited, making its comeback a fraught exercise.
Young shoppers seem to be going beyond loyalty and instead engaging with brands’ ethos. And businesses are taking note.