MF&L aiming to create India’s first Rs 1,000 cr brand

Ashish Dikshit the CEO of Madura Fashion & Lifestyle (MF&L)

who took over only this April, believes MF&L could create the country's first Rs 1,000 crores apparel brand. And that three of its brands -- Louis Philippe, Van Heusen and Peter England -- could reach this milestone within 3-4 years. He says they have an opportunity to grow more than twice the size of today, to clock a turnover of Rs 4,500-5,000 crores in 3-4 years. He says they do not want to be just a large conglomerate of multiple brands. Rather the company is focused on creating each of its brands into powerful brands. And the company could create the country’s first Rs 1,000-crore apparel brand, since three of its brands- Louis Philippe, Van Heusen and Peter England have the capability to reach this milestone within 3-4 years.

The deal with Pantaloon, where Aditya Birla Novo acquired a majority stake, has now given MF&L easy access to the most profitable chunk of the fashion retail business. In 2010, Madura targeted doubling its turnover in two years and with around Rs 2,200 crores now, it did manage to achieve it. Moving ahead, the company is looking to growing more than twice the size of today, to clock a turnover of Rs 4,500-5,000 crores in 3-4 years with a focus on creating each of its brands into power-brands.

Aditya Birla Nuvo, through Madura Fashion & Lifestyle, controls apparel brands such as Allen Solly, Louis Philippe, Van Heusen and Peter England and with acquisition of majority stake in Pantaloon, it can now cater to customers at the lower segment in the value chain.