Walmart-owned e-commerce marketplace Flipkart has made a strategic investment in Bengaluru-based fashion brand Universal Sportsbiz Pvt. Ltd. (USPL), as it looks to further strengthen its lead as the country’s largest online fashion retailer along with subsidiary Myntra. The investment in USPL comes within a fortnight of Flipkart acquiring a 7.8% stake in Aditya Birla Fashion & Retail (ABFRL), which operates brands such as Pantaloons, Allen Solly and Peter England, for a sum of Rs 1,500 crore.
(The Economic Times tech)