Flipkart Hands Back Flying Machine to Arvind as IPO Nears

Flipkart continues to take steps to accelerate its IPO in 2026. Arvind Fashions Limited has reached an agreement to acquire Flipkart Group’s entire stake in Arvind Youth Brands, the company that controls Flying Machine. The transaction, valued at 1,350 million rupees (about $15 million), will allow the Indian textile group to acquire a one hundred percent stake, the company said in an official statement.

Flipkart owned 31.25% of Arvind Youth Brands, a stake it had acquired in 2020 for about 2.6 billion rupees (about $29 million) with the aim of relaunching Flying Machine in the digital environment. Since then, the alliance has enabled the brand to reposition itself as one of the benchmarks of the youth casual segment on the country’s online platforms, especially through the Flipkart marketplace , as the company explains.

Despite the exit of the capital, the business relationship between the two companies will be maintained.“Our tie-up with the Flipkart group will continue, ensuring that consumers can continue to buy Flying Machine on their platforms,“ said Amisha Jain, CEO of Arvind Fashions, who also confirmed the expansion of distribution to other digital channels.

Flipkart acquired 31.25% of Arvind Youth Brands in 2020 for Rs. 2.6 billion, almost double the amount it is selling it for five years later

Financially, the buyback comes against a backdrop of lower traction in the brand’s business. According to data published by Outlook Business, Flying Machine’s revenues have fallen by nearly 10% in the last three fiscal years, from Rs. 4,724 crore ($52.5 million) in 2023 to Rs. 4,322 crore ($48 million) in 2025, in an increasingly competitive market.

The divestment is part of Flipkart’s broader reorganization strategy ahead of its future IPO. In recent months, the Walmart-controlled group has sold stakes in companies such as BlackBuck and Aditya Birla Fashion & Retail. At the same time, it is moving forward with the relocation of its corporate headquarters to India, now with the green light from the competition tribunal. Both processes are key to move towards its initial public offering (IPO), which the Indian online retail giant has planned for 2026.

With its moves in recent months, Flipkart is redefining its role in fashion, reducing its equity exposure to brands and concentrating its efforts on its payment platform, logistics operations and digital marketplace. The Flying Machine buyback reinforces, in parallel, Arvind’s strategy of concentrating control of its key brands at a time of consumer and online channel adjustment in India.

Arvind is one of the largest textile and apparel companies in India and the world. It stands out for its strong ability to buy and integrate recycled fibers into its own value chain. The group has worked with brands such as Pepe Jeans, Calvin Klein, Tommy Hilfiger, H&M and Circ, the U.S. next gen materials start-up owned by Inditex.