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Under the scheme of arrangement, ABFRL has demerged its Madura Fashion & Lifestyle (MFL) business and vested it into Aditya Birla Lifestyle Brands
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Flipkart holds 6% stake in ABFRL; the floor price of the block deal is likely to be Rs 79.5 per share, sources told Moneycontrol
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Upon completion of the demerger, the shareholders of ABFRL will get one share of ABLBL (now Madura Fashion and Lifestyle) for every one share in ABFRL, in addition to their existing shareholding in ABFRL.
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The management’s recognition of the need for a demerger through a vertical split of businesses is timely given the high growth and competition in the fashion industry
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The Madura Fashion & Lifestyle business segment consists of four lifestyle brands viz Louis Philippe, Van Heusen, Allen Solly & Peter England apart from American Eagle & Forever 21, sportwear brand Reebok and the innerwear business under Van Heusen
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The companies claim that the acquisition aligns with ABFRL's objective of creating a comprehensive fashion portfolio across various consumer segments and price points.
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The Aditya Birla group firm has entered into definitive agreements to acquire a 51 per cent stake in TCNS Clothing, which owns ethnic brands such as W, Aurelia, Wishful, Folksong and Elleven, said a joint statement.
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The company had posted a net profit of Rs 196.80 crore during the October-December quarter of the previous fiscal, Aditya Birla Fashion and Retail Ltd (ABFRL)said in a regulatory filing.
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Aditya Birla Fashion and Retail Ltd (ABFRL) is likely acquire a majority stake in TCNS Clothing Ltd, the owner of the popular women’s wear brands W and Aurelia according to Mint's report.
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Directional movement index gives a sell signal
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TMRW has partnered with eight new digital-first brands across various lifestyle and retail categories
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At current market price, this retail sector stock is trading at P/E of 56 times its FY24 projected earnings, which is reasonable, and MC Pro recommends investors to add the stock to their portfolio. Watch the video for details on the company and its fundamentals
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ABFRL under Madura Fashion and Lifestyle business is a repertoire of leading apparel brands such as – Louis Philippe, Van Heusen, Allen Solly and Peter England.
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The board of Aditya Birla Group’s fashion arm will meet tomorrow in this regard
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Aditya Birla Fashion and Retail also plans to launch five-six direct-to-consumer brands in-house as it eyes a play in the fast-growing direct-to-consumer segment, the fashion retailer’s Managing Director Ashish Dikshit told Moneycontrol.
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The D2C portfolio will be built through organic and inorganic means, ABFRL said
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This comes as part of a strategic partnership with designer Masaba Gupta
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Reliance Retail last week announced the launch of its ethnic wear brand Avantra. Aditya Birla Fashion and Retail Retail, which has mainly catered to the Western wear market in the past, acquired stakes in eponymous ethnic labels like Tarun Tahiliani and Sabyasachi earlier this year. Titan Company, too, is engaged in a renewed push of its ethnic range under Taneira. Why has the Rs. 1.5 lakh crore ethnic wear market attracted these retail giants now?
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Addressing shareholders at the Aditya Birla Fashion and Retail’s 14th Annual General Meeting, Chairman Kumar Mangalam Birla talked about the company’s performance in a year that was riddled with challenges, initiatives towards debt management, cost-saving measures and push for digital.
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According to Kumar Rajagopalan, CEO of the Retailers Association of India, the sector usually clocks $40 billion-$45 billion in revenue in April and May collectively.
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Department store chain Shoppers Stop and apparel retailing major ABFRL have reported a decline in sales from March-end onwards.
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Aditya Birla Fashion and Retail Ltd (ABFRL) has bought significant stakes in luxury couture businesses of fashion designers Sabyasachi and Tarun Tahiliani. What is the business rationale? Read on
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It had reported net profit of Rs 60.66 crore in the July- September quarter of last financial year, the company said in a BSE filing.
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"It has signed an exclusive deal with the UK's Ted Baker. The 'No Ordinary Designer Label' luxury brand will offer men's wear, women's wear and accessories in India," ABFRL said in a BSE filing.
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Forever 21 is among the fastest growing fashion retailers in the world with a large network of more than 700 stores worldwide.
