Currently, the textile-to-retail conglomerate is conducting due diligence of Freecultur
Arvind is believed to be in an advanced level of talks for acquiring the Sequoia capital-funded Freecultr, an ecommerce company. According to the sources, Arvind is currently carrying out necessary diligence of the online lifestyle brand and may close the deal in a few months.
There is a possibility of Freecultr being acquired by Arvind Internet, the online arm of the group. The co-founder, Freecultr called the news, speculative, while the official spokesperson of Arvind Internet refused to comment.
The ecommerce company started off as a lifestyle brand in 2011, it recently launched a new platform called “Freecultr Express”. The portal allows any individual to create, sell and market their t-shirts online through the company’s site without any additional charges that would involve logistics, operations or inventory costs. Alongside, the creator also gets commission for sales they make.