ABFRL plans to expand The Collective with new stores, launch a Japanese women’s wear brand
24 March 2023, Mumbai
Aditya Birla Group's luxury retail store, The Collective, is set to expand its presence with 20 new stores, including 10 new stores for The Collective brand and mono-brand stores such as Hackett, Fred Perry, Ted Baker, Polo Ralph Lauren and Ralph Lauren.
The company, which is a division of Aditya Birla Nuvo Ltd and operates 33 stores in India, aims to finance the expansion through internal accruals. The investment required is ₹10,000- 12,000 per sq. ft , that means around INR7-8 crore for a 7,000 sq. ft. store., and up to double for mono-brand stores.
The company has also seen significant growth in its women's apparel segment and plans to add the niche Japanese brand A Bathing Ape to its portfolio in FY23.
The expansion comes amid projections India’s fashion market would touch ₹5.7-5.8 trillion by 2024. The growth will be driven by premiumization, greater penetration of ecommerce and a focus on private labels and the entry of international brands, according to Boston Consulting Group.
