Aditya Birla Retail news and archive

Aditya Birla Retail’s to be profitable by next year

Aditya Birla Retail expects to become profitable at the company level by next year. It has a strong double-digit, like-to-like growth based on various initiatives focused on the consumer experience, both in terms of assortment and service. The company reduced its operating loss by 7.4 per cent in the year ended March 2016. The group entered...

Business

Aditya Birla Retail incurs losses worth Rs 5,320 crores

After eight years of operations Aditya Birla Retail accumulated losses to the tune of Rs 5,320 crores. The retail arm of the Aditya Birla Group posted Rs 2,893 crores sales for the year ended March 2015. As per the company’s filings with Registrar of Companies, the group’s losses reduced 5 per cent year-on-year at Rs 571 crores. The gestation...

Business

Aditya Birla Retail incurs losses worth Rs 5,320 crores

Business

Aditya Birla Retail may take a couple of years to turn profitable

Recently, Aditya Birla Group had announced the merger of its two retail arms — the Aditya Birla Nuvo-owned fashion retailing business with Pantaloons Fashion & Retail. The merger led to the launch of Rs 12,000 crores (around two billion dollars) branded apparel entity called Aditya Birla Fashion & Retail (ABFRL). While experts believed Birla...

Business

Aditya Birla Retail may take a couple of years to turn profitable

Recently, Kumar Mangalam Birla-led Aditya Birla Group announced merger of its two retail arms — the Aditya Birla Nuvo-owned fashion retailing business with Pantaloons Fashion & Retail. The merger has led to the launch of Rs 12,000 crores (around two billion dollars) branded apparel entity called Aditya Birla Fashion & Retail (ABFRL). While the...

Business

Aditya Birla Retail loss widens to Rs 596 cr in FY14

Aditya Birla Retail (ABRL), after seven years into the business, could not control its losses, which widened to Rs 596 crores during the year ended March 2014 compared to Rs 510 crores a year ago. While sales more than doubled at Rs 2,510 crores after merging its arm Trinethra Super-retail in the company. The company has now accumulated a loss...

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

More.Megastore enters fashion apparel, footwear segment

More.Megastore from the Aditya Birla Retail has launched nine in-house apparel and footwear brands announcing its entry into the apparel and footwear segment. More hypermarket will now cater to the fashion needs of men, women and kids. The retail chain would be strengthening its portfolio by offering value for money yet quality merchandise....

Apparel

Real estate hampers Aditya Birla Retail’s plans

Aditya Birla Retail has failed to achieve its retails expansion target due to delays by real-estate developers in delivering malls and stores. The company had announced plans of launching 10 large stores in the current fiscal year through March, but it is now sceptical about achieving a target of six. It now hopes to open eight stores by the...

Apparel

Aditya Birla Retail to invest Rs 1,500 cr on expansion

Aditya Birla Retail has decided to invest about Rs 1,500 crores in the next five years to expand its hypermarket and supermarket stores. The company that runs hypermarkets under the ‘More Megastore’ brand is looking to open 12 stores each year, while adding around 150 outlets every year to its ‘More’ chain of supermarkets. The average store size...

Apparel

AB Retail to push private labels

Aditya Birla Retail is now concentrating on increasing volume sales through special schemes in private labels rather than adding more products. It has reduced its private labels in fast moving consumer goods to 290 from 350. In staples, private labels are more than 200. Sales from private labels are 19 to 20 per cent of the Aditya Birla Retail’s...