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News on Medial
Aditya Birla Group eyes major fashion statement, targets billion-dollar heft for four of its brands
Economic Times
·
22d ago
Medial
Aditya Birla Group aims to transform its lifestyle brands—Louis Philippe, Van Heusen, Allen Solly, and Peter England—into billion-dollar labels within a decade, driven by changing consumer habits and increasing income levels. The company sees growth potential in the shift towards branded fashion in India's expanding $170 billion market. Originally focused on menswear, these brands now offer a diverse range of products, positioning Aditya Birla to compete globally by capitalizing on evolving market trends.
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Aditya Birla Fashion Shares Dips 66%, but Don’t Panic—It’s Just the Demerger Math
OutlookIndia
·
1m ago
Medial
Shares of Aditya Birla Fashion Retail fell over 66% due to adjusting for the demerger of its Madura Fashion and Lifestyle business into a new entity, Aditya Birla Lifestyle Brands. This steep decline is a technical adjustment reflecting the separation of the businesses. Shareholders will receive one share in Aditya Birla Lifestyle for every share held in Aditya Birla Fashion. The demerger is intended to reallocate debt and focus different brand portfolios under each entity.
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Aditya Birla Group eyes ‘bifocals’ for its diverse businesses, people policies
Livemint
·
1y ago
Medial
The Aditya Birla Group, led by Kumar Mangalam Birla, is considering implementing a new dual strategy for its traditional and new businesses. The conglomerate, which encompasses various sectors including cement and fashion, is in talks with consultants to develop this "bi-focal" strategy. It would involve different policies for older and newer ventures, potentially requiring changes to employee policies. The Aditya Birla Group has already initiated some changes under its group director of human resources and is looking at simplifying internal structures and improving decision-making speed. Additionally, the group aims to enhance its brand image and boost market capitalisation.
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Aditya Birla Digital Fashion Invests INR 75 Cr In WROGN
Inc42
·
9m ago
Medial
Aditya Birla Digital Fashion Ventures has acquired a higher stake in the direct-to-consumer (D2C) fashion brand, WROGN, increasing its ownership from 17.10% to 32.84%. This move will help Aditya Birla Digital Fashion to expand its collection of digital-first brands and diversify its brand portfolio. The investment follows a previous acquisition by Aditya Birla Group's fashion and lifestyle arm, TMRW, which acquired a 16% stake in the parent company of WROGN.
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Spotlight: Designer labels turn showstopper on Aditya Birla Fashion’s growth runway
VCCircle
·
9m ago
Medial
Aditya Birla Fashion and Retail Ltd., part of the Aditya Birla Group, made a significant move in 1999 by acquiring Madura Garments, which helped establish their leadership in the Indian ready-to-wear garment industry. Since then, they have successfully built a portfolio of designer labels, including Allen Solly, Van Heusen, and Peter England. Aditya Birla Fashion continues to grow and thrive by leveraging its strong brand presence and expanding its retail footprint.
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NCLT approves merger of TCNS Clothing into Aditya Birla Fashion and Retail
Livemint
·
11m ago
Medial
Aditya Birla Fashion and Retail Ltd (ABFRL) has received approval from the National Company Law Tribunal (NCLT) for its merger with TCNS Clothing. The merger involves TCNS Clothing Co. and Aditya Birla Fashion and Retail and their respective shareholders and creditors. ABFRL had acquired a majority stake in TCNS Clothing in May 2023. The company reported a consolidated net loss of ₹161 crore in Q1FY25, attributed to investments in digital-first fashion brands and losses in premium ethnic wear brands.
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Aditya Birla fashion raises stake in Tarun Tahilani brand for for Rs 127 Cr
YourStory
·
1y ago
Medial
Aditya Birla Fashion and Retail Ltd has increased its stake in Goodview Fashion Pvt Ltd by 17.5%, acquiring a majority stake of 51% for Rs 127.42 crore. Goodview Fashion, which owns the ethnic fashion brand Tarun Tahiliani, has now become a subsidiary of Aditya Birla. The acquisition was made through a secondary acquisition from existing shareholders, and no regulatory approvals were required. Goodview Fashion reported a revenue of Rs 148 crore in the last fiscal year. In a separate development, Aditya Birla Group recently announced a $50 million investment in a manufacturing and R&D centre in Texas.
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Aditya Birla Fashion to list flagship lifestyle brands as separate entity
VCCircle
·
1y ago
Medial
Aditya Birla Fashion and Retail (ABFRL) has announced plans to separate its flagship lifestyle brands, collectively known as Madura Fashion & Lifestyle, into a separate listed entity. This decision comes as ABFRL has faced losses over the past three quarters due to weak demand and increased investments in certain brands. Madura Fashion consists of four lifestyle brands - Louis Phillippe, Van Heusen, Allen Solly, and Peter England - which contribute to over 70% of the company's total revenue. Following the demerger, ABFRL will focus on luxury and premium brands, as well as place emphasis on its Pantaloons brand.
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Accel and Virat Kohli-backed Wrogn raises Rs 125 crore in funding from TMRW
Economic Times
·
1y ago
Medial
TMRW House of Brands, a venture of Aditya Birla Group, has invested Rs 125 crore in Wrogn, a popular men's wear brand backed by Accel and Virat Kohli. Founded in 2014, Wrogn targets young men with casual clothing, footwear, and accessories. This investment brings TMRW's total support for Indian fashion brands to eight. Wrogn aims to achieve a revenue of Rs 1,500 crore in the next five years. TMRW's CEO, Prashanth Aluru, believes that with their expertise and technology-driven approach, they can elevate Wrogn to an iconic status.
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Aditya Birla Group added Rs 1.91 lakh crore in market cap in last year
Money Control
·
1y ago
Medial
The Aditya Birla Group, one of the largest conglomerates in India, has seen significant growth in market capitalization over the past year, making it the 7th largest conglomerate in the country. The cement business within the group has been performing well, driven by post-COVID recovery and government spending. However, other companies within the group, such as Vodafone and Aditya Birla Fashion, have faced challenges in customer base erosion and profitability improvement. Despite some underperformance relative to other conglomerates, the Aditya Birla Group remains a steady performer.
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Aditya Birla Group’s TMRW Picks Up 16% Stake In Virat Kohli-Backed WROGN
Inc42
·
1y ago
Medial
Aditya Birla Group's fashion and lifestyle venture, TMRW, has acquired a 16% stake in Universal Sportsbiz Private Limited (USPL) for INR 125 Cr. USPL is the company behind the popular youth fashion brand, WROGN, which is backed by Virat Kohli and Accel. This minority investment includes the option for Aditya Birla Group to acquire a majority stake in USPL in the future.
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