Revamped look in the offing for Pantaloon

After acquiring a controlling stake in the Rs 1,600 crores Pantaloon

Fashion and Retail (Pantaloon) from Future Group, Aditya Birla Nuvo plans to provide a new refreshed look to its product range. The group would invest around Rs 150 crores to carry out expansion and renovation plans this fiscal.

In the June quarter, Pantaloon registered a net loss of Rs 57 crores but was able to acheive Rs 344 crores in revenue. Though Aditya Birla has thriving Madura Garments brand portfolio under its fold, the idea behind acquiring Pantaloon was to expand its presence in the women’s and kids’ wear and ethnics segments, where Madura does not have a presence.

Madura Fashion and Lifestyle’s brand portfolio includes menswear labels such as Louis Philippe, Van Heusen, Allen Solly, Peter England, People and Linen Club. After acquiring Pantaloon, the company now has over 1,500 exclusive brand outlets occupying over 3.8 million sq. ft. of retail space, which altogether gets revenues over one billion dollars (around Rs 6,800 crores) annually.