ABFRL confident of surpassing revenue target of Rs 21000 crore by 2026ABFRL - 229 Change: 3.60 (1.60 %)
News: As per media reports, at the latest annual general meeting, Aditya Birla Fashion and Retail (ABFRL) chairman Kumaramangalam Birla indicated that the company is confident of fortifying its market position further and surpassing the earlier revenue guidance of Rs 21,000 crore by 2026.
View: ABFRL over the last two years has been filling the white spaces in its portfolio and entered newer categories to achieve its target of accelerated revenue growth. Other than its formal wear and casual wear categories, ABFRL has entered into strategic alliances and has built a strong bouquet of reputed brands in the ethnic wear category. To fortify its presence in ethnic wear ABFRL has entered into a partnership with Shantanu and Nikhil and also set up new alliances with two of India's most iconic designers (Tarun Tahiliani, Sabyasachi). We believe these partnerships will further strengthen the company’s presence in the luxury wedding and designer wear market. Also, the company has entered into a long-term licensing agreement with Reebok, whereby it has acquired exclusive rights to distribute and sell Reebok products in India. Further, the company has also announced its entry into the D2C segment. To fund the growth aspirations in new emerging areas such as ethnic, athleisure, and D2C, ABFRL has already announced an equity infusion of Rs 2,195 crore from Singapore's sovereign wealth fund, GIC which should enable it to accelerate the revenue growth of the newly acquired brands across consumption categories.