13th September 2021, Mumbai:
Aditya Birla Fashion and Retail Ltd (ABFRL), a leading fashion retailer, is targeting sales of Rs 25,000 crore ($3.4 billion) by 2026. In FY2021, ABFRL had net revenue of Rs 5,249 crore.
To drive its development in the next years, the business is counting on its portfolio of brands, robust distribution, and digital network, as well as a consumer-centric and innovation-focused culture. ABFRL intends to focus on ethnic clothing to increase sales, with this category expected to contribute the most to overall sales in the next years.
“Ethnic fashion and clothing is the largest section in the fashion and apparel industry, with a sizable profit stream. It's also a sector that's resistant to changes in the clothing cycle and isn't as affected by the global brand rivalry. ABFRL currently has one of the strongest and most complete portfolios of brands in the Indian ethnic market, thanks to acquisitions and collaborations, according to ABFRL chairman Kumar Mangalam Birla.
“The firm redesigned its brand and customer digital experience, aggressively pushed e-commerce through deeper relationships with third-party e-commerce platforms and investments in our e-commerce platform, and digitized backend processes.
As a consequence, digital channel sales increased by 40% in the last year,” he continued. Aditya Birla Fashion and Retail is India's largest fashion firm, including labels such as Louis Philippe, Van Heusen, Allen Solly, and Peter England.
It now operates 3,212 shops in India, with 31,000 multi-brand outlets and 6,835 points of sale in department stores.