10th September 2021, Mumbai:
Fashion retailer Aditya Birla Fashion Retail (ABFRL) is gearing up to clock revenues of ₹ 25,000 crore after five years, announces chairman Kumar Mangalam Birla told shareholders at the company’s annual general meeting (AGM) 9th Sep.
The clear visibility is there as the fashion retailer looks to pivot ethnic wear clear as in-focus area.
Birla expressed his satisfaction around recovering economy and improving business & consumer sentiments on the back of the fact that vaccination has made good progress, and that the latest GDP growth of over 20 percent in Q1FY22, signals that a visible recovery is in play.
Despite the terrible 2nd wave blow of the pandemic on the retail sector, markets are expected to return towards normalcy with the advent of festivity, the underlying trend of value migration from the unorganized to the organized sector, and improving digital adoption is only making a case for cautious optimism on the retail sector going forward.
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