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Aditya Birla Fashion and Retail

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Aditya Birla Fashion and Retail Ltd.
Company typePublic
BSE: 535755
NSE: ABFRL
IndustryRetail
Founded1997
Headquarters
Mumbai, Maharashtra
,
India
Area served
India
Key people
Ashish Dikshit (MD)[1]
ProductsClothing
RevenueIncrease ₹14,233 crore (US$1.7 billion) (2024)[2]
Increase ₹1,703 crore (US$200 million) (2024)[3]
Total assetsIncrease ₹22,411 crore (US$2.6 billion) (2024)[3]
Total equityIncrease ₹4,721 crore (US$550 million) (2024)[3]
Number of employees
26500+ (FY2024)[4]
ParentAditya Birla Group
Websitewww.abfrl.com

Aditya Birla Fashion and Retail Limited (ABFRL) is an Indian fashion retail company headquartered in Mumbai. It emerged after the consolidation of the branded apparel businesses of Aditya Birla Nuvo Limited (ABNL), comprising ABNL's Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MFL), in May 2015. Post consolidation, PFRL was renamed Aditya Birla Fashion and Retail Ltd.[5]

History

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A Pantaloons store in Kolkata.

Madura Garments was established in 1988, acquired by the Aditya Birla Group in 1999 and was renamed Madura Fashion & Lifestyle in 2010.[6][7]

The garment activities of group holding company Aditya Birla Nuvo and another group entity, Madura Garments Lifestyle Retail, would be demerged into listed firm Pantaloons Fashion & Retail Ltd (PFRL) under the scheme of arrangement. Madura owns and retails brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England [5]

In 2012, Aditya Birla Nuvo acquired major stakes in Pantaloons. In 2015, Pantaloons was renamed Aditya Birla Fashion and Retail Ltd. (ABFRL).[8]

ABFRL acquired the Jaypore brand and bought 51% stake in Finesse International Design that runs the designer wear label Shantanu & Nikhil in 2019.[9]

In 2020, Flipkart acquired a 7.8% stake in ABFRL for ₹1,500 crore.[10]

In 2021, ABFRL entered into an agreement to buy a 51% stake in the designer brand Sabyasachi. Later that year, ABFRL entered into a partnership with designer Tarun Tahiliani. ABFRL also partnered with Authentic Brands Group to take on Reebok's operations in India.[11] In January 2022, ABFRL acquired 51% stake in House of Masaba Lifestyle.[12]

In December 2021, ABFRL experienced a data breach carried out by ShinyHunters, whose ransom demand was allegedly rejected. Subsequently, customer information including 5.4 million unique email addresses, names, phone numbers, physical addresses, order histories and passwords stored as MD5 hashes was dumped publicly on a hacking forum.[13][14]

In April 2024, ABFRL's subsidiary Madura Fashion & Lifestyle demerged into a separate public listed entity.[15]

In May 2024, ABFRL acquired an additional stake in its subsidiary Indivinity Clothing Retail Private Limited (ICRPL) which increased ABFRL’s holding from 80% to 85.54%.[16]

Operations

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As on 31 March 2024, ABFRL has a network of 4,664 stores, apart from being present in multi-brand outlets.[17][18][19] ABFRL's brands include Louis Philippe, Van Heusen, Allen Solly and Peter England, established over 25 years.[20] Pantaloons brands caters to men, women and children with a mix of private labels and licensed brands in apparel and accessories.[21]

Its international brands include The Collective. It has exclusive partnerships with brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter and Galeries Lafayette.[22]

Its ethnic wear brands include Jaypore, Tasva & Marigold Lane.[23][24] The company has strategic partnerships with Designers ‘Shantnu & Nikhil’, ‘Tarun Tahiliani’, ‘Sabyasachi’ and ‘House of Masaba’.[25][26][27]

In September 2023, it completed the acquisition of a 51% stake in TCNS Clothing Co. Ltd, a women’s branded ethnic apparel company that includes brands W, Aurelia, Wishful, Elleven & Folksong.[28]

Partnerships and acquisitions

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Year Type Company name Notes Valuation/Stake Ref.
2012 Joint venture Hackett Hackett Limited is a British clothing brand for men and boys 50% stake [29]
2016 Partnership Ted Baker Ted Baker is a British high-street clothing retail company - [30][31]
2016 Acquisition Forever 21 Forever 21 is an American multinational fast fashion retailer. Only its Indian operations were acquired by the Aditya Birla Group. $26 million [32]
2017 Partnership Simon Carter Simon Carter is a British fashion design company specialising in men's accessories and menswear NA [33]
2018 Partnership American Eagle Outfitters American Eagle Line is an American clothing and accessories retailer N/A [34]
2018 Partnership Ralph Lauren Ralph Lauren Corporation is an American publicly traded fashion company NA [35]
2019 Acquisition Jaypore Jaypore is an Indian fashion women ethnic wear brand ₹110 crore [36]
2019 Acquisition TG Apparel & Decor TG Apparel & Decor is an Indian clothing brand N/A [37]
2019 Acquisition Shantanu & Nikhil Shantanu & Nikhil is an Indian fashion designer 51% stake [38]
2020 Partnership Fred Perry Fred Perry is a British clothing label - [39]
2021 Partnership Sabyasachi Sabyasachi is an Indian fashion and jewellery label 51% stake (₹398 crore) [40]
2021 Partnership Tarun Tahiliani Tarun Tahiliani is an Indian fashion and jewellery designer 33.5% stake (₹67 crore) [41]
2022 Partnership Reebok Reebok is an American fitness footwear and clothing brand N/A [42]
2022 Partnership Masaba Gupta Masaba Gupta is an Indian fashion designer 51% stake [43][44]
2022 Partnership Galeries Lafayette ABFRL entered into a strategic partnership with Galeries Lafayette 50% stake [45]
2023 Acquisition TCNS Clothing Limited TCNS Clothing is an Indian public limited company and women's branded apparel retailer 51% stake [28][46]
2023 Partnership Christian Louboutin Christian Louboutin is a French fashion designer N/A [47]

References

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  1. ^ "ABFRL's Ashish Dikshit foresees India leading global retail innovation in next 5 years - ET Retail". ETRetail.com.
  2. ^ "Aditya Birla Fashion And Retail Limited Q4 FY-24" (PDF). bseindia.
  3. ^ a b c "Aditya Birla Fashion and Retail Ltd. Financial Statements" (PDF). bseindia.com.
  4. ^ "ABFRL 2024 Report" (PDF). BSE India.
  5. ^ a b "Pantaloons changes its name to Aditya Birla Fashion and Retail". The Economic Times. Retrieved 23 October 2020.
  6. ^ Agarwal, P. R. Sanjai,Sapna (3 May 2015). "Aditya Birla Group to merge apparel business units". mint.{{cite news}}: CS1 maint: multiple names: authors list (link)
  7. ^ "Aditya Birla's Madura Fashion and Lifestyle business to move to a 12-season cycle". FashionNetwork.com.
  8. ^ "Aditya Birla Nuvo acquires major stake in Pantaloons - The Textile Magazine". Indiantextilemagazine. 24 May 2012.
  9. ^ "Aditya Birla Fashion and Retail set to expand Jaypore, Shantanu & Nikhil brand". Livemint. 10 August 2019. Retrieved 1 March 2022.
  10. ^ "Flipkart to invest Rs 1,500 crore in Aditya Birla Fashion & Retail". Economic Times. 23 October 2020. Retrieved 1 March 2022.
  11. ^ "ABFRL planning portfolio of up to 30 internet first brands". Economic Times. 16 February 2022. Retrieved 1 March 2022.
  12. ^ "Birla has the best wedding suits stacked up and he wants them displayed on your phone". Business Insider. 4 February 2022. Retrieved 1 March 2022.
  13. ^ "Aditya Birla Fashion and Retail faces data breach on its portal". The Economic Times.
  14. ^ "Aditya Birla Fashion and Retail Sites Said to Still be Vulnerable; Company Says 'Access Secured'". 18 January 2022.
  15. ^ "Aditya Birla Fashion to demerge Madura business into separate listed entity, plans to raise funds after process". Hindustan Times. 1 April 2024.
  16. ^ "Aditya Birla Fashion and Retail Strengthens Grip on Ethnic Wear Brand Tasva". Bru Times News.
  17. ^ "Aditya Birla Fashion Board meeting on 23 October to consider proposal on fund raising; shares up by 6 per cent". Zee Business. 21 October 2020.
  18. ^ "Aditya Birla Fashion and Retail Limited". sebi.gov.in.
  19. ^ "Deciphering Aditya Birla Fashion's growth plans". The Economic Times.
  20. ^ "The Trends" (PDF). abfrl.com.
  21. ^ Mudgill, Amit. "Will ABFRL stock hit Rs 200 mark after big Flipkart deal?". The Economic Times.
  22. ^ "ABFRL completes acquisition of Forever 21 for Rs 175 crore - ET Retail". ETRetail.com.
  23. ^ "Aditya Birla Fashion and Retail acquires Jaypore". Livmint.
  24. ^ "Aditya Birla Fashion and Retail". Economic Times.
  25. ^ "Aditya Birla Fashion to buy 51% stake in bespoke apparel brand Shantanu & Nikhil". VCCircle.
  26. ^ Balram, Smita (24 February 2021). "ABFRL picks up 33.5% stake in Tarun Tahiliani brand to strengthen position in ethnic wear segment". The Economic Times.
  27. ^ "From Sabyasachi To House Of Masaba: 13 surprising brands you never knew were part of Aditya Birla Group". Financialexpress. 26 November 2023.
  28. ^ a b Malviya, Sagar (6 May 2023). "Aditya Birla Fashion to acquire 51% stake in TCNS Clothing for Rs 1,650 cr". The Economic Times.
  29. ^ "Aditya Birla Group's Madura Fashion & Lifestyle enters luxury single brand retail with UK's Hackett". The Economic Times. 12 September 2012.
  30. ^ "Aditya Birla signs Ted Baker deal for India". FashionNetwork.com.
  31. ^ "Aditya Birla Fashion to bring UK brand Ted Baker to India". The Economic Times. 4 November 2016.
  32. ^ "Aditya Birla Fashion to acquire Forever 21 in India for $26 mn". The Economic Times. 5 July 2016.
  33. ^ "Simon Carter enters India via tie-up with Aditya Birla Fashion and Retail". Financialexpress. 15 September 2017.
  34. ^ Pani, Priyanka. "Aditya Birla Fashion brings American Eagle line to India". @businessline.
  35. ^ "Ralph Lauren enters into license agreement with ABFRL to open stores in India". FashionNetwork.com.
  36. ^ Tandon, Suneera (10 June 2019). "Aditya Birla Fashion and Retail acquires Jaypore". mint.
  37. ^ "Aditya Birla Fashion Retail to acquire 2 ethnic wear brands". The Times of India. 10 June 2019.
  38. ^ "Aditya Birla Fashion to acquire 51% stake in retail firm of designer Shantanu & Nikhi". The Economic Times. 15 July 2019.
  39. ^ "ABFRL-Aditya Birla Fashion and Retail Limited Introduced Fred Perry to India". Bru Times News.
  40. ^ "Aditya Birla Fashion Buys 51% stake in Sabyasachi Couture for Rs 398 crore". Timesnownews. 28 January 2021.
  41. ^ "Aditya Birla Fashion partners with Tarun Tahiliani for ethnic wear brand". Financialexpress. 25 February 2021.
  42. ^ Malviya, Sagar (13 August 2022). "Aditya Birla Fashion to now own and operate Reebok stores in select markets". The Economic Times.
  43. ^ "Masaba Gupta announces partnership with Aditya Birla Fashion and Retail Limited". Vogue India. 14 January 2022.
  44. ^ "Aditya Birla Fashion ties up with designer Masaba Gupta to launch new D2C brand". India Today. 14 January 2022.
  45. ^ "ABFRL ties up with French co Galeries Lafayette". The Times of India. 18 November 2022.
  46. ^ Staff Writer (6 May 2023). "ABFRL to acquire controlling stake in ethnic wear owner TCNS". mint.
  47. ^ "Christian Loboutin has announced a joint venture partnership in India with Aditya Birla Fashion and Retail Limited". BruTimes.
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