Temasek takes minority stake in Romsons Group to back expansion and M&A
Singapore's Temasek has taken a minority stake in Romsons Group to support the medical devices maker's expansion in India and overseas and explore potential acquisitions
Rakesh Biyani has sought to challenge Zudio, a fast-fashion retailer with over 1,000 stores across 300-plus Indian cities, by launching his own value retail chain, Style Union. Style Union, founded by Rakesh and his wife Ekta in 2022, has been expanding rapidly, adding 180 outlets. In FY25, it reported a revenue increase of two-thirds to Rs 588 crore, while net losses decreased by a third to Rs 24 crore.
The company aims to raise ₹800 crore from investors Venturi Partners and Elev8 Venture Partners. Zudio, which counts over 1,000 stores and generates more than $1 billion in sales, has been Indian retail's biggest success story since Dmart's rise in the 2000s.
Written by urgent.news from The Ken's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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