ABFRL to launch men’s ethnic wear brand

Aditya Birla Fashion & Retail (ABFRL) plans to launch a men’s ethnic wear brand, and has acquired 33.5 per cent stake in ace designer Tarun Tahiliani’s Goodview Properties for the same. ABFRL holds 80 per cent stake in the new entity while Tarurn Tahiliani holds the remaining 20 per cent.

To operate in the premium occasion wear segment, the new brand eyes Rs 500 crore business in the next five years. It also plans to set up 250 stores in the same period. The deal gives ABFRL 33 per cent stake in Tahiliani’s existing luxury couture business with the option to increase it to 51 per cent in the next few years.

With a network of 3,000 stores ABFRL sells clothes and accessories from brands like Louis Philippe, Van Heusen, Allen Solly to Peter England, among others. The company was established in 1996 and spans categories such as apparel, wedding wear, accessories, jewellery, interiors and homes which are retailed across company-owned and operated outlets in India and distributor across the country and overseas.