18 May 2022, Mumbai:

ABFRL’s best ever Q4 Performance

Kick started Ethnic Expansion

Ecommerce continues to grow strongly

Penetration into Small Town India

―Highest ever Revenue and EBITDA in Q4 despite January washout

―Consolidated revenue & EBITDA grew by 25% & 58% respectively

―Lifestyle revenue higher by 34% YoY

―Pantaloons posted robust growth

―Ethnic portfolio more than doubled

Aditya Birla Fashion and Retail posts 25% revenue growth over pre-COVID levels; EBITDA surges 50% YoY.

ALSO READ Aditya Birla Fashion & Retail (ABFRL)’s: New age digital brands to contribute constructively to its revenue in 5 years

Performance Highlights

1. Q4 revenue grew 25% over pre-COVID levels as well as over last fiscal
a. 50% YoY growth was seen in March 2022 offsetting the impact of COVID 3 during the first half of Q4.
2. Q4 Consolidated EBITDA for the quarter increased 58% YoY to Rs. 401 Cr.
a. Robust performance across categories led to a 17.6% EBIDTA margin this quarter.
1. EBITDA Margin expanded by more than 350 bps over the previous year.
3. Continued progress on strategic portfolio expansion agenda
a. "Reebok" and "Masaba" added to the portfolio this year.
b. Strategic foray into D2C business with a long-term vision of building a portfolio of digital-first brands.
4. Network Expansion plan firmly on track
a. Continued expansion across markets and brands.
b. Deepening penetration through small-town formats.
5. Accelerated E-com and Omni-channel play
a. Ecommerce business currently operating at annual revenue of -Rs 1000 crores
b. One of the largest fashion Omni-channel play with -50% network Omni-enabled.

6 Closed the quarter with net debt of Rs.504 Crores.

RELEVANT NEWS Aditya Birla Fashion and Retail (ABFRL): To consolidate D2C play eyes at multiple digitally native brands

Financial Performance

The Board of Directors of the Company, at its meeting today, approved the results for the quarter ended 31st March 2022.

These financials are posted factoring in necessary adjustments under Ind AS 116.

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CREDITS: ABFRL (The news article has not been edited by DFU Publications staff).

17 May 2022, Mumbai:

Couturier Tarun Tahiliani and the Aditya Birla group (ABFRL) have joined forces to launch a men’s traditional wear brand called Tasva. This is a brand inspired by India’s culture and history, especially Benaras which is a confluence of vibrant colors and hues and is poetically on the banks of the Ganges.

ALSO READ Aditya Birla launches ‘Tasva’ a brand with Tahiliani

Tahiliani is known for his opulent traditional wear for both men and women, which retails through his eponymous brand, and for his bridal couture. Tasva’s ready-to-wear line encompasses the same refined yet heavily detailed and luxurious aesthetic and craftsmanship that Tahiliani has become known for but pared down to retail at a more accessible price-point.

RELEVANT NEWS Tasva: Flagship store opened in New Delhi

Tasva combines the fit Tahiliani is known for with Aditya Birla’s expertise in fabrics, factories, distribution, and manufacturing.

Aditya Birla has ambitious retail expansion plans for Tasva and aims to open between 50 and 70 brick-and-mortar outlets across India in a year.

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CREDITS: TASVA LINKEDIN 

14 May 2022, Mumbai:

Nine years on and big names like Levis and IKEA are still putting their factory workers' lives at risk

May 15th marks nine years since the signing of the Accord on Fire and Building Safety in Bangladesh. So far, the trailblazing, legally binding agreement has protected over two million garment workers by making sure 1,600 factories in Bangladesh meet safety requirements, but Levis and IKEA refuse to sign.

ALSO READ Levi Strauss’ stitching design, a well-known mark, says Delhi High Court

The Accord came as a response to the devastating Rana Plaza building collapse in Bangladesh, April 2013, which saw 1,138 garment workers lose their lives due to incredibly unsafe factory conditions.

It took this collapse to finally get brands to come to the table and negotiate a legally binding agreement, which workers, Clean Clothes Campaign, and other advocacy groups had been calling for for years.

Today, 173 brands have signed the updated agreement, the International Accord for Health and Safety in the Textile and Garment Industry – including fast fashion giants like H&M, Inditex (Zara), Fast Retailing (UNIQLO) and PVH (Tommy Hilfiger, Calvin Klein). This new version, which commenced in September 2021, allows for expansion to other countries that also have a history of ongoing violations.

This new Accord can make workplaces safe for workers in the global garment and textiles supply chain by establishing independent inspections, remediation, complaint mechanism, and safety committees in factories that supply to international brands and companies. “10 years ago Pakistan lost over 250 lives in the Ali Enterprises factory fire.

RELEVANT NEWS IKEA looks forward to National Retail Policy (NRP) rollout

We still have no legally binding agreement that forces brands to take action in favour of workers' safety and prevent something horrific like this from happening again. The Pakistani garment and textile sector is in need of an Accord, like in Bangladesh, where brands can be forced to come to the table and listen to the needs of the workers they employ.” - Karamat Ali, Executive Director of The Pakistan Institute of Labour Education & Research (PILER).

Despite the unquestionable need to protect workers, some notable names, which are active in countries with demonstrable safety problems, are still missing from that list. Brands such as Levi’s and IKEA, that pride themselves on sustainability and workers' rights, have refused to sign the accord so far risking the safety of workers in the supplying factories.

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13 May 2022, Mumbai:

India’s leading apparel manufacturer and the exclusive licensee of Jockey and Speedo in India, Page Industries has launched a Chemical Management Policy and unveiled the Restricted Substances List (RSL) for its supply chain.

ALSO READ Page Industries (Brand Jockey) reports Q2 results

Developed by a special working group of the American Apparel & Footwear Association’s (AAFA’s) Environmental Task Force, the RSL is a practical tool that provides apparel companies and their supply chain with information related to regulations and laws that restrict or ban certain chemicals and substances in finished apparel products around the world.

With the implementation of RSL, Page aims to ensure that there are no hazardous chemicals in the finished product, zero incidences of product safety-related issues, and an enhanced product and manufacturing experience for all stakeholders along the value chain.

RELEVANT NEWS Jockey India expands 'offline footprint' despite 3X growth in online sales

Over the last few years, Page Industries has implemented several incremental practices in line with its sustainability commitment including establishing Supply Chain Standard and Responsibility Code, adopting Responsible Sourcing Policy, conducting sustainability assessment for strategic suppliers, and capacity building for strategic suppliers on GHG emissions accounting, among others.

For implementation and monitoring of this RSL initiative, Page Industries has also tied up with Bluwin, the holding company of “STS-Sustainable Textile Solutions,” which aims to reduce the adverse impacts of the manufacturing process of fashion, textile, and footwear industries on the planet.

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12 May 2022, Mumbai:

Soch is excited to have been featured in LBB, with our most loved and unique top 5 ethnic styles.

With the days now getting longer and the weather much warmer, summer is unquestionably here!

ALSO READ Soch Apparels witnesses strong online growth amid COVID-19 crisis

But with soaring temperatures also come fashion trends for the summer. So, time for you to step out of your boring outfits and hop on the trends of 2022. Luckily for us, Soch has got a new collection for the season, and they've woven in all the current trends be its bold prints, bandhani, or palazzos.

RELEVANT NEWS Soch Group launches 'Not So Pink' women’s workwear label

With floral, paisley, block prints, and colour blocking currently hot off the runways - India and abroad, Soch has added block prints onto their tunics, kurtas, sarees, and more.

Check out the Straight Fit Block Print Kurta for a trendy floral print look. Let out the bold you with the versatile, intricate blend of floral and geometric print which has been doing rounds at runways, with their summer-perfect Coral Cotton Unstitched Dress Material.

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CREDITS: Soch Apparels Linkedin (The news article has not been edited by DFU Publications staff).

16 May 2022, Mumbai:

Elated Kavindra Mishra, MD & CEO of House Of Anita Dongre said,” A big thanks to all the members of the team for creating these amazing brands which are revolutionizing the way Kids wear as a category is being consumed in the country. 

ALSO READ Anita Dongre believes the epidemic has strengthened her dedication to bridal clothing

Super Thrilled to announce the launch of our second exclusive Girls store at Select City Walk ~ New Delhi.

We have seen unprecedented success at our Hyderabad Forum Girls Store and I am pretty sure the team will deliver blockbuster nos here. 

Looking forward to many more Girls concept stores soon” !!

RELEVANT NEWS House of Anita Dongre invests in electric vehicles business

House of Anita Dongre has become the first Indian fashion company to join the international environmental organization Canopy’s CanopyStyle and Pack4Good initiatives.

The CanopyStyle and Pack4Good initiatives focus on transforming fashion and packaging supply chains by shifting them away from sourcing from the world’s most important forests and scaling climate-friendly next-generation solutions.

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CREDITS: House of Anita Dongre (The news article has not been edited by DFU Publications staff).

10 May 2022, Mumbai:

TOD’S S.P.A AND RELIANCE BRANDS LIMITED ENTER A MULTI-YEAR FRANCHISE AGREEMENT TO RETAIL THE BRAND IN INDIA.

RELIANCE BRANDS LIMITED (RBL) commences a new journey with the icon of Italian luxury lifestyle Tod’s S.p.A.

ALSO READ Reliance Brands: 6th ‘Designer Brand’ acquisition & counting

With this long-term Franchise agreement, RBL has become the official retailer of the brand across all categories including footwear, handbags, and accessories in the Indian market.

Tod's has been operational in India since 2008 with mono-brand stores in DLF Emporio, New Delhi and Palladium, Mumbai, and multi-brand e-commerce platform Ajio Luxe.

The management of existing channels will be taken over by Reliance Brands Limited and the focus will be on enhancing the brand’s potential in the market and strengthening its digital presence.

RELEVANT NEWS Reliance Brands Limited x Rahul Mishra have teamed together

“Reconciling excellent craftsmanship with a hunger to innovate for the new consumers, Tod’s has crafted a unique space for itself on the global luxury front.

A name that conjures images of luxe leathers and soigné materials, we are thrilled to partner with the brand to uphold its core values of exceptional quality, craftsmanship, and effortless elegance in the Indian market,” said Darshan Mehta, MD of Reliance Brands Limited.

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