Madura Fashion business, consisting of brands such as Louis Phillippe, Van Heusen, Allen Solly & Peter England, Reebok, and others will be demerged into a separate listed entity.
Retail chain giants are back with a bang and continue to add muscle to India’s $110 billion organised retail story with more stores and footfalls.
Shares of Aditya Birla Fashion and Retail, a subsidiary of Aditya Birla Group, surged as much as 1.8% to hit an intraday high of ₹214.80 apiece on the BSE in early trade.
Corporate biggies such as Reliance and Aditya Birla Group go aggressive in luxury retail as high-earning Indians live it up.
GIC will own around 7.5% equity stake in ABFRL after the investment.
ABFRL’s fourth deal in the Indian ethnic wear space was a minority stake in Tarun Tahiliani’s label. Its growing portfolio in the space signals its ambition, but the real work has just started.
After acquiring 51% in Sabyasachi Mukherjee’s fashion house, Kumar Mangalam Birla-led ABFRL has picked up a 33.5% stake in Tarun Tahiliani’s couture label.
Sabyasachi Mukherjee has made it to the top of the couture sweepstakes. And now, with a new partner in Kumar Mangalam Birla-led ABFRL, the designer aims to expand his brand to the larger mass market.
