Aditya Birla Fashion & Retail Ltd Company Summary

Aditya Birla Fashion & Retail Ltd Summary

Aditya Birla Fashion and Retail Ltd. (ABFRL), formerly known as Pantaloons Fashion & Retail Limited, was formed after the consolidation of the branded apparel businesses of Aditya Birla Group comprising Aditya Birla Nuvo Ltd.s (ABNL) Madura Fashion division and ABNLs subsidiaries Pantaloons Fashion & Retail Limited (PFRL) and Madura Garments Lifestyle Retail Company Limited (MGLRCL) in May 2015. Post consolidation; PFRL was renamed as Aditya Birla Fashion and Retail Limited with effect from 12 January 2016. ABFRL is Indias No 1 Fashion Lifestyle entity. It altogether hosts Indias largest fashion network with over 6723 points of sale in over 900 cities and towns, which include more than 33,535 exclusive brand outlets (EBOs) and 4000 value stores. The Company is largest pure-play fashion and lifestyle entity with an elegant bouquet of leading fashion brands and retail formats. It is presently engaged in manufacturing and retailing of branded apparels and runs a chain of apparels and accessories retail stores. Pantaloons Fashion & Retail Limited (PFRL) was listed on the bourses and trading in the companys share commenced 17 July 2013 after implementation of a Scheme of Demerger. The Scheme of Arrangement under Sections 391-394 of the Companies Act, 1956, entered into between Future Retail Limited (earlier known as Pantaloon Retail (India) Limited) (FRL), PFRL and their respective shareholders and creditors and Indigold Trade and Services Limited (ITSL) (as the shareholder of PFRL), regarding the demerger of the Pantaloons Format Business (Demerged Undertaking) of FRL (Scheme), was made effective by the Board of Directors of PFRL at its meeting held on 8 April 2013 after receipt of all the requisite approvals and on completion of all the conditions precedents enumerated in the Scheme. Accordingly, as per the terms of the Scheme, the entire Demerged Undertaking was transferred to and vested in PFRL with effect from 1 July 2012. In terms of the Scheme, the name of the company was changed from Peter England Fashions and Retail Limited to Pantaloons Fashion & Retail Limited (PFRL) and the Authorised Equity Share Capital of the company was increased from Rs 10 crore to Rs 100 crore.On 3 May 2015, Aditya Birla Nuvo Ltd (ABNL) announced consolidation of its branded apparels businesses under its listed subsidiary viz. Pantaloons Fashion & Retail Limited (PFRL). The Board of Directors of ABNL, PFRL and Madura Garments Lifestyle Retail Company Limited (MGLRCL) - a subsidiary of ABNL, at their respective meeting held on 3 May 2015 approved the consolidation of branded apparel businesses under PFRL, through a composite scheme of arrangement. To reflect the enhanced scope of the operations post consolidation, the Board of PFRL approved PFRL to be renamed as Aditya Birla Fashion & Retail Limited (ABFRL).On 13 May 2016, Aditya Birla Fashion and Retail (ABFRL) announced that it has signed an exclusive deal to bring the Simon Carter designer wear brand into the country. Simon Carter is a London-based designer brand with a quirky English touch.On 5 July 2016, ABFRL announced that it has executed a Business Transfer Agreement with Diana Retail and DLF Brands Limited (the promoter of Diana Retail), for the acquisition of the business undertaking of Diana Retail relating to the business of operating retail stores in India for the sale of clothing, artificial jewellery, accessories and related merchandise under the Forever 21 brand and also through e-commerce channels on a going concern, by means of a slump sale, for a lump sum consideration of Indian rupee equivalent of USD 26 million. The company also executed a franchise agreement with Forever 21, Inc. in terms of which the company has been appointed the exclusive franchisee for the brand Forever 21 for the Indian market. On 22 July 2016, Madura Fashion & Lifestyle (MF&L), a division of Aditya Birla Fashion and Retail Limited, announced that it has partnered with Indias largest public sector bank - State Bank of India (SBI) to launch payments through SBIs mobile wallet State Bank Buddy across MF&L retail network to create exciting shopping experiences for customers across the country.On 4 November 2016, Aditya Birla Fashion and Retail Ltd (ABFRL) announced that it has signed an exclusive deal with UKs most successful fashion brand, Ted Baker. ABFRLs portfolio of brands spans luxury, premium, sub-premium and fast fashion segments. The addition of Ted Baker will further augment ABFRLs position in the affordable luxury space giving its discerning customers a true taste of high-end fashion.On 28 February 2017, ABFRL announced that its leading fast fashion brand Forever 21 has strengthened its foothold in Mumbai with the launch of its 4 store at Phoenix Market City, Kurla, taking the total count to 15 stores in India. On 17 March 2017, ABFRL announced that its leading fast fashion brand Forever 21 has debuted in West Bengal with a store launch in Siliguri. The brand is focusing on strengthening its foothold in the country by exploring newer markets like West Bengal.On 21 April 2017, ABFRL announced its Van Heusen brand innerwear and athleisure business has registered rapid growth in a record time of 6 months i.e. since its foray into the innerwear and athleisure market in September 2016.ABFRL announced the opening of a new store of its youth fashion brand People in Nashik in Maharashtra on 22 April 2017, taking its presence to a total of 11 People brand stores in the state. On 16 August 2017, ABFRL entered into a strategic alliance with American Eagle Outfitters, Inc., a leading global specialty retailer offering high quality, on-trend clothing, accessories and personal care products at affordable prices. By virtue of a license agreement, ABFRL has acquired the exclusive rights to use the American Eagle Outfitters and Aerie brands to operate stores and e-commerce site to sell products of these brands in India.The Board of Directors of Aditya Birla Fashion and Retail Limited (ABFRL) vide their Circular Resolution passed on 30 January 2018 approved entering into a Store License and Distribution Agreement with Ralph Lauren Asia Pacific Limited (RLAPL), which offers apparel and accessories for both men and women under the brand name Polo Ralph Lauren and Ralph Lauren and such other name(s) as may be designated by RLAPL from time to time. By virtue of this Agreement, ABFRL has acquired exclusive right to open and operate free - standing and retail stores, right to import and distribute products at wholesale level and E-commerce right i.e. right to sell the products through the Collective.in website of Polo Ralph Lauren and Ralph Lauren trademarks in India.In FY 2020, the Company acquired the Jaypore brand and forged a partnership with Shantanu & Nikhil for occasion wear.In FY 2021, the Company enriched its portfolio with new partnerships with two of Indias most iconic designers, Sabyasachi Mukherjee and Tarun Tahiliani. In FY 2022, the Company announced two new organic forays namely Marigold Lane, a Premium womens ethnic wear brand and Tasva, a Premium Mens ethnic wear brand. It worked towards diversifying its merchandise and is enhancing its mens wear offerings alongside womens wear. Pantaloons strengthened its private label portfolio through launches across categories such as Mens wear, designer collaborations in womens ethnic, kids wear, as well as increased online store. It launched a new brand, TASVA.In 2022-23, the Company added more than 500 stores and expanded the network to 3977 stores including 431 Pantaloons stores. It acquired Reebok India business through signing of agreements in FY22. From 1st Oct 2022, the Reebok business transitioned into ABFRL and has commenced expanding its presence by launching new stores, relaunching its website Reebok.in, and initiating marketplace operations. In April 2022, your Company set-up a new entity TMRW, portfolio of digital-first brands. In 2023, the Company acquired 52.44% stake in House of Masaba Lifestyle Private Limited. making it a subsidiary of the Company.