Aditya Birla Fashion

Walmart-owned e-commerce firm to offload remaining 6 per cent stake as part of strategic shift; Goldman Sachs managing the transaction

The company added that the successful fundraise reflects investor confidence in the high-growth potential of India's fashion industry and its position as a leading player in the market

Aditya Birla Fashion and Retail Ltd on Wednesday reported a widening of consolidated loss after tax at Rs 214.92 crore in the first quarter ended June 30, 2024, impacted by higher expenses in a subdued consumption environment. The company had posted a consolidated net loss after tax of Rs 161.62 crore in the same quarter last fiscal, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing. Consolidated revenue from operations stood at Rs 3,427.82 crore in the first quarter as against Rs 3,196.06 crore in the year-ago period, the company added. Total expenses in the quarter were higher at Rs 3,724.89 crore as compared to Rs 3,458.02 crore in the year-ago period. "Businesses continued to navigate through a subdued consumption environment which was further exacerbated by a prolonged heat wave and weak wedding season," the company said. Net profit at a consolidated level was impacted due to continued investments in digital-first fashion brands TMRW and losses in premi

The aforesaid proposal will be subject to all statutory approvals from ABFRL board of directors, shareholders, creditors, regulators, along with other customary approvals

Panelists agree that Indian luxury brands will expand footprints across globe

Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 107.60 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 11.21 crore during the October-December quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Its revenue from operations was at Rs 4,166.71 during the quarter under review. In the year-ago period, the company's revenue from operations stood at Rs 3,588.80 crore. According to the Aditya Birla group firm, the consolidated financial results for the quarter ended December 31, 2023 are "not comparable with previous quarters" pursuant to the acquisition of TCNS Clothing and Styleverse Lifestyle. ABFRL's total expenses were at Rs 4,302.93 crore in the December quarter. Growth in the quarter was "driven by new businesses", ABFRL in an earnings statement said, adding the "overall market remained subdued leading to modest growth for the traditional portfolio." Its re

"This joint venture envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake," ABFRL said in a release

Aditya Birla Fashion Retail Ltd (ABFRL) has completed the acquisition of a 51 per cent stake in TCNS Clothing to become a promoter of the women's apparel brand. "The company has acquired 51 per cent of the expanded share capital of TCNS, thereby acquiring control over TCNS," ABFRL said in a late night regulatory filing on Tuesday. TCNS has become a subsidiary of the company, and will also be a material subsidiary of the company in accordance with SEBI Listing Regulations, it added. On May 5, Aditya Birla Group firm had announced that it will acquire a majority stake in TCNS Clothing, in a deal worth Rs 1,650 crore. As per the deal, it acquired TCNS Clothing's founding promoter's stake through an SPA (Share Purchase Agreement), followed by an open offer. As per SPA, ABFRL acquired a total of 1.41 crore equity shares constituting 22 per cent of the expanded share capital of the company. "Consequently, post conditional open offer and SPA closing, the company acquired 3.29 crore equi

The proposed combination involves acquisition of 51% of the expanded share capital of TCNS Clothing Co Limited by the Aditya Birla Fashion and Retail Limited

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Ananya Birla is a business woman and platinum selling artist. She founded her first company, Svatantra Microfin at the age of 17 which is amongst India's fastest growing MFI's

With these eight brands on board, TMRW has achieved a revenue run-rate of over Rs 700 crore and is on a path to cross an annual revenue rate of Rs 1,500 crore in the next 12 months

Flagship stores in Mumbai and Delhi will have more than 200 luxury and designer brands

Aditya Birla Fashion and Retail, Trent, Shoppers Stop, Arvind Lifestyle, and TCNS Clothing Company saw their revenues hitting an all-time high in the September quarter

ABFRL is aggressively expanding its network across brands with Pantaloons adding 21 outlets on a net basis and the branded business taking the store count up by 85

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TMRW will create India's largest portfolio of disruptor brands in the fashion & lifestyle space and enable the next phase of direct-to-consumer growth in India

Accenture will design, develop, and deploy an ERP system based on SAP S/4HANA to streamline business processes, improve visibility and accessibility of data across ABFRL

Accenture will develop an Enterprise resource planning system (ERP) to streamline business processes and accessibility of data across clothing brand's stores for Aditya Birla Fashion.

Aditya Birla Fashion and Retail Ltd reported an over three-fold jump in its net profit at Rs 196.80 crore for the third quarter ended December 2021