Aditya Birla news and archive

Khadi sales up 28 per cent, production too on the rise

Khadi sales in India have grown 28 per cent this year across segments: fabric, readymade garments or solar vastra. During the last five years, khadi sales have seen a quantum jump every year. Khadi production jumped 17 per cent in 2018-19, compared to seven per cent a year ago. From 2014 to 2018 khadi sales grew at an annual average of over 30...

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Business

Aditya Birla Fashion Retail’s Q2 revenue up 11 per cent

Aditya Birla Fashion and Retail’s Q2 revenue is up 11 per cent. Ebitda is up 62 per cent. For the first half, ebitda is up 56 per cent and revenue 10 per cent. Madura recorded a spectacular 52 per cent ebitda growth in this quarter and revenues rose 13 per cent. Madura's business consists of brands like Louis Philippe, Van Heusen, Allen Solly,...

Retail

Saks, Aditya Birla put off plans to open maiden store in Gurgaon

American luxury department store chain Saks, owned by Hudson's Bay Company has stalled plans to open their first store in Gurgaon's Aerocity. As per sources Saks Fifth Avenue had to open its first store in partnership with the Aditya Birla Group in Aerocity, one India’s rapidly-growing tony zones, followed by a second one in Mumbai's Bandra...

Retail

American Eagle enters licensing deal with Aditya Birla for India stores

American Eagle has entered a multi-year licensing deal with Aditya Birla Group to open licensed stores in India. The first stores will come up in Mumbai and Delhi in spring 2018. The Indian assortment will include the AE Jeans collection and pieces celebrating casual American style. Andrew McLean, American Eagle's EVP-Global Commercial...

Apparel

Aditya Birla shortlists PEs for stake-sale

As speculated earlier, sources assert that Aditya Birla Group has already short-listed French tycoonBernard Arnault's investment company L Capital, General Atlantic Partners, Singapore sovereign fund GIC and Standard Chartered Private Equity to raise 400 million dollars (around Rs 2,400 crores) funding for its consolidated retailing business...

Apparel

Birla eyes stake sell after demerging Madura

The buzz in the media is that the Aditya Birla Group has directed Standard Chartered Bank to divest 25 percent stake in a new retail company to be formed by merging Madura Fashion & Lifestyle, Pantaloons and More Supermarkets. It is learnt that the company plans to raise 500 million dollars (over Rs 3,000 crores), seeking a valuation of 2.5-3...

Apparel

Pantaloons reports Q3 loss of Rs 15.66 cr

Pantaloons Fashions and Retail, now a part of Aditya Birla Nuvo, has reported a net loss of Rs 15.66 crores for the third quarter ended December 31, 2013 due to decline in net sales and other income. The company had reported profits worth Rs 20 lakh in the corresponding quarter a year ago, the company said in a filing to the BSE. Pantaloons' net...

Apparel

Pantaloon aims to increase store count to 150 in two years

A slump in the economy and low consumer buying has not affected the retail expansion plans of Pantaloon Fashion & Retail, now owned by the Aditya Birla group. The company aims to increase its store count from 77 to 150 in 2 years. It has also announced double-digit increment to its workforce. Media reports suggest that after picking majority...

Apparel

Aditya Birla Retail appoints Vishak Kumar new CEO

For the second time in 18 months, Aditya Birla Retail is trying to restructure its loss making retail business. The company has appointed Vishak Kumar, currently Head of the supermarket business and an Aditya Birla Group old-timer, who joined as a management trainee in 1995, as common Chief Executive Officer (CEO) for its both -- hypermarket and...

Apparel

Aditya Birla eyes investment in its retail chain More

Despite acquiring majority stake in Pantaloon, Aditya Birla has failed to attract any investment into its retail businesses - Aditya Birla Retail (ABRL), which runs supermarket and hypermarket chain ‘More’ and Madura Fashion and Lifestyle. The company is scouting for foreign investments in its retail business for quite some time now. Though the...

Apparel

Birla Retail to open 100 supermarkets every year

Aditya Birla Retail, the retailing arm of Aditya Birla group, is looking at opening 100 supermarkets under 'More' brand every year in the next three years, including this year, to bolster its retail presence. Birla Retail is also planning to open half dozen hypermarkets next financial year. Birla's plans come after the retailer closed 40...

Apparel

Barua draws plans for Birla’s retail business

In the next few years, Pranab Barua who serves as the Head of Apparel and Retail Business at Aditya Birla Retail and known for his turnaround artistic skills could well be leading one of India’s largest organised retailing ventures. According to sources, he has set an internal target of achieving $2 billion for the group within two years. The...