05 February 2022, Mumbai:
Aditya Birla Fashion and Retail (ABFRL) plans to set up a platform to foray into the Direct-to-Consumer (D2C) business.
The new subsidiary will build a portfolio of new-age, digital brands across categories such as beauty, fashion, and other allied lifestyle segments.
The D2C portfolio will be built through organic and inorganic means, and will initially be funded through the company’s internal accruals.
It will bring in external capital gradually to accelerate growth. It will also incubate and acquire other D2C brands. ABFRL will offer its rich experience and capabilities to scale up the portfolio.
The company will also identify key talent for the portfolio. It will tap into the tech ecosystem and collaborate with its e-commerce partners, tech service providers, digital marketing agencies to scale the business.
A part of the Aditya Birla Group, ABFRL has a bouquet of leading fashion brands and retail formats under its belt.
As of December 2021, the company had a network of 3,370 stores across approximately 26,744 multi-brand outlets with over 6,751 points of sale in department stores across India.
Louis Philippe, Van Heusen, Allen Solly and Peter England are leading brands established for over 25 years, while Pantaloons is one of India’s largest fast-fashion store brands.
The company has forayed into branded ethnic wear businesses including Tasva, Jaypore and strategic partnerships with designers including Shantanu& Nikhil, TarunTahiliani and Sabyasachi.
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*Figures mentioned in the above article have been sourced from Business Today article.
