31 January 2026, Mumbai
Aditya Birla Fashion and Retail (ABFRL) has initiated a significant leadership consolidation to streamline its burgeoning ethnic wear portfolio. Following the resignation of Anant Kumar Daga as CEO of the TCNS Division, effective April 30, 2026, the company has re-designated Sooraj Bhat to oversee both the Ethnic Business and TCNS operations starting May 1. This move marks a definitive shift toward integrating the acquired TCNS brands - including W, Aurelia, and Wishful - more closely with ABFRL’s in-house designer and premium labels like Sabyasachi, Tarun Tahiliani, and Tasva. By centralizing authority under Bhat, an ABFRL veteran of over 24 years, the group aims to extract greater operational efficiencies and capitalize on the 11 per cent Y-o-Y revenue growth recently reported in its ethnic portfolio.
Scaling toward Rs 5,000 crore revenue target
The restructuring comes at a critical juncture as ABFRL pursues an ambitious ethnic wear revenue target of Rs 5,000 crore by FY27. Despite a 13 per cent rise in overall Q2 FY26 revenues to Rs 1,982 crore, the company has faced challenges with consolidated net losses and fluctuating stock performance. Bhat’s appointment is strategically timed to stabilize margins in the TCNS segment, which were projected to reach low double digits by FY25. Leveraging his previous experience as Deputy CEO, Pantaloons and CEO, Fast Fashion, Bhat is tasked with navigating a highly competitive mid-market segment while maintaining the 20 per cent like-to-like growth momentum seen in the designer portfolio.
The transition signifies ABFRL’s commitment to a leaner, more agile structure as it scales its 7.5 million square foot retail footprint.
ABFRL is a premier Indian retailer managing a multi-format portfolio across Western brands (Van Heusen, Allen Solly), lifestyle retail (Pantaloons), and luxury labels. With a recent focus on high-growth ethnic wear and digital-first ventures through TMRW, the company aims to surpass Rs 21,000 crore in revenue by 2026, building on its decade-long history of aggressive brand acquisitions.
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