Aditya Birla Fashion and Retail set to achieve Rs 25,000 crore revenue in five years
17th September 2021, Mumbai:
Kumar Mangalam Birla, Chairman, Aditya Birla Fashion and Retail says the company is poised to achieve Rs 25,000 crore revenue in five years. In FY21, ABFRL recorded net revenues of Rs 5,249 crore and an EBITDA of Rs 628 crore.
It expects markets to return to normalcy towards the latter half of FY22. The plan is to focus on ethnic wear segment that has strong resilience to apparel cycle fluctuations and is least impacted by competition from global brands.
Over the last two years, ABFRL has carefully crafted a portfolio that gives it a sizable presence across key price points and sub-segments. The company has one of the strongest and most comprehensive portfolios of brands in the Indian ethnic space, Birla adds. In January 2021, ABFRL acquired 51 per cent stake in designer brand Sabyasachi and entered a strategic partnership with Tarun Tahiliani in February. It also raised Rs 1,500 crore by issuing a 7.8 per cent stake on a preferential basis to Walmart-owned Flipkart Group in FY21.
