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ABFRL will achieve Rs21,000 crore turnover by 2026, says K.M. Birla

6 Sept 2022 , 12:13 PM

The chairman of Aditya Birla Fashion and Retail Ltd., Kumar Mangalam Birla, stated on Monday that the company is confident in strengthening its market position further and exceeding the estimated revenue of Rs21,000 crore by 2026.

At the company’s 15th annual general meeting, Birla informed shareholders that ABFRL is utilizing technology and its execution excellence to develop a strong, successful, and future-ready brand portfolio. “We had forecast revenue of Rs21,000 crore for 2026 during our annual investor day held in March 2021. I am extremely optimistic that we will be able to surpass that objective and establish even bigger milestones for the firm moving ahead,” he added.

ABFRL’s revenue reached Rs 8,136 crore for the fiscal year that ended on March 31, 2022, representing a rise of 55%. “Compared to the prior year, profitability increased due to the robust revenue recovery. Several efforts spanning cost control, supply chain optimization, and smart procurement were taken up by the business teams that led to the substantial rise in profitability,” he added.

ABFRL is developing a broad range of famous brands and pursuing strategic relationships. In order to do so, the Aditya Birla Group has formed new partnerships with Tarun Tahiliani and Sabyasachi, two of India’s most renowned fashion designers, in FY21. This was part of a relationship with Shantanu and Nikhil.

“Both these alliances will significantly boost our footprint in the luxury wedding and designer apparel sector,” he added. Additionally, it has partnered with Masaba Gupta, one of India’s most promising young designers.

He said that his firm now has one of the strongest and most complete ethnic brand portfolios in the Indian garment market and was prepared to grow enormously as a result of such acquisitions and collaborations.

Along with Tasva, ABFRL also introduced a premium ethnic wear brand in FY22 in collaboration with Tarun Tahiliani. Six locations were established in FY22, and the brand is anticipated to add over 70 outlets in FY23, making it one of the country’s fastest-growing stories in the premium ethnic category, according to Birla.

In FY22, ABFRL and Reebok agreed to a long-term license arrangement under which ABFRL was granted the exclusive right to distribute and sell Reebok items through wholesale, e-commerce, and retail locations in India that bear the Reebok name.

It had also declared that its subsidiary TMRW would join it in the direct-to-consumer market. To strengthen ABFRL’s position in the developing digital ecosystem, “this firm will develop and acquire a portfolio of digital-first brands,” he stated.

To help this development plan in new arising regions like ethnic, athleisure, and D2C, ABFRL has declared a value imbuement of Rs 2,195 crore from Singapore’s sovereign abundance store, GIC, which flags the strength of the organization’s plan of action and its development possibilities.

ABFRL under Madura Fashion and Lifestyle business is a collection of driving clothing brands, for example, – Louis Philippe, Van Heusen, Allen Solly, and Peter England.

While its worldwide image portfolio incorporates The Collective, India’s biggest multi-brand retailer of global brands, Simon Carter, and select mono-brands like Forever 21, American Eagle, Ralph Lauren, Ted Baker, and Fred Perry. It additionally claims style corporate store Pantaloons has more than 370 stores spread across 180 urban areas.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Aditya Birla
  • business
  • Companies
  • India
  • news
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