According to experts, demand from the home textile industry is expected to remain supportive in the near-to-medium term
The promoter and promoter group companies of Aditya Birla Fashion will hold about 55.13 per cent stake upon completion of the issuance
The revenue was down by over 84 per cent at Rs 323 crore in Q1 FY21 against Rs 2,065 crore in Q1 FY20
The company delivered a strong performance and beat expectations on all fronts in a challenging environment
Its key segments of Lifestyle and Pantaloons are expected to post mid-teen growth
The strategic 10-year services agreement will help ABFRL's growth, enabling them to expand their stores network across the country
Pantaloons expansion gives hope for revival
Losses narrowed to Rs 21 crore compared with a loss of Rs 68 crore in the year-ago period
Aditya Birla Fashion and Retail, part of Aditya Birla Group, has acquired the rights for global fashion chain Forever 21 in the country for an undisclosed sum.Forever 21 had a three year old tie up with DLF Brands and wanted to exit the partnership for a much aggressive play in the country, said sources. Myntra was also in talks to buy the rights of Forever 21, reports said earlier.Aditya Birla Fashion has signed a memorandum of understanding (MoU) with the US based Forever 21 to acquire its exclusive online and offline rights for Indian market and its existing store network in India from the current franchisee Diana Retail, the company said on Wednesday in a release.Pranab Barua, managing director of ABFRL said, "The proposed acquisition is in line with our strategic intent to create the largest integrated branded fashion player in the country. With the acquisition of Forever 21 India business, we aim to create a strong foothold in the womenswear business in the western wear segment.
Q&A with business head, Madura Fashion & Lifestyle at Aditya Birla Fashion