Aditya Birla Fashion and Retail’s Q2 income jumps 14 per cent

Business

Aditya Birla Fashion and Retail’s Q2 income jumps 14 per cent

by Shubhangi Bidwe
15 Nov 2019

Aditya Birla Fashion and Retail’s (ABFRL) Q2 income went up 14.72 per cent as expenses rose 15.92 per cent. Revenues of Aditya Birla’s Madura business segment, comprising lifestyle brands Louis Philippe, Van Heusen, Allen Solly, Peter England and fast fashion labels Forever 21 and People, among others, grew by 16.65 per cent.

Pantaloons revenue was up 16.22 per cent. This growth was driven largely by superior product offering and intensified brand building. These initiatives helped achieve 23 per cent growth in comparable ebitda.

Aditya Birla is confident of continuing its market-leading performance on the back of a wide distribution network, high quality talent and credible leadership team. Aditya Birla Fashion and Retail has acquired a 51 per cent stake in Shantanu and Nikhil. S&N is a New Delhi-based brand respected in the world of fashion for its bespoke creations and ceremonial couture. The joint venture will enable S&N have access to Aditya Birla’s manufacturing, warehousing, distribution and sourcing chain. The idea is to conceive, incubate and create a new brand in the Indian ethnic occasion wear space. This will be in the affordable luxury and premium segment. The idea is to contemporise and modernise Indian ethnic and traditional wear, which will extend from the mother line and make masculine silhouettes-inspired functional ready-to-wear and contemporary styles for women.