Aditya Birla Fashion and Retail (ABFRL): To consolidate D2C play eyes at multiple digitally native brands
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17 February 2022, Mumbai:
Fashion retail major Aditya Birla Fashion and Retail (ABFRL) plans to acquire 10 digitally-native or direct-to-consumer (D2C) brands in the next 12-14 months while at the same time launch five-six such brands in-house as it tries to grab a share of the rapidly-growing D2C segment, the company’s Managing Director Ashish Dikshit told Moneycontrol.
In the long term, about three-four years, the ABFRL subsidiary that will be created to invest into early-stage brands, will house about 25-30 digital-first brands, he added.
According to Dikshit, the company has set its sight on the channel as it does not want to miss out on consumers of the future.
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“While our existing brands will grow and continue to remain relevant and (eventually) become more digitally-savvy, there is a whole bunch of new digital-first brands, which would come up and that's why we decided this strategy,” said Dikshit.
The company, said the MD, is eying 10-15 percent of its revenue coming from its D2C subsidiary in the next five years.
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*Figures mentioned in the above article have been sourced from Money Control article.
