The Koutons Retail India has decided to invest up to Rs 120 million to acquire 51 per cent or more stake in Touchwood International through its subsidiary DBG Retail Holdings.
The company will finance the acquisition via a part of IPO proceeds meant for general corporate purposes or out of the internal accrual of the company.
Touchwood International is the owner of 'upper class' brand, which has presence in the ladies and gents segment.