26 May 2022, Mumbai:
Aditya Birla Fashion and Retail (ABFRL) will raise Rs 2,195 crore in funds by issuing equity shares and warrants to an affiliate of Singapore’s sovereign wealth fund GIC.
The company will use this capital to expand existing businesses and grow emerging high-growth business models.
Ashish Dikshit, Managing Director says, the investment will enable the company to build a strong portfolio of brands and develop its retail formats.
In the current fiscal ended March 31, 2022, ABFRL increased its total income to Rs 8,236 crore as compared to Rs 5,322 crore in the same period of the previous fiscal year ended March 31, 2021.
The company owns brands like Louis Philippe, Van Heusen, Allen Solly, and Peter England.
The company’s international brand portfolio includes The Collective and it also has partnerships with Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, and Reebok. ABFRL also plans to scale up its digital operations to enhance customer experiences.
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