- 21 Jun 2022
- ICICIdirect Research
ABFRL PLANS ACCELERATED STORE EXPANSION OF MEN’S ETHNIC WEAR BRAND TASVA
ABFRL - 310 Change: 1.80 (0.58 %)News: As per media reports, ABFRL and designer Tarun Tahiliani plan to open 75 stores of men's ethnic wear brand Tasva by March 2023
Views: Tasva brand was launched in December 2021 and caters to premium occasion wear segment with presence at affordable price points and having a product portfolio consisting of kurtas, bandhgalas, sherwanis and jodhpuris. The brand currently has four stores in India . The company is planning to initially expand the retail footprint in south India and then expand on a pan India basis. The company is planning to open 75 Tasva stores across India by March 2023. ABFRL is looking to tap the large and fast growing Indian mens ethnic wear market which would provide thrust to its revenue growth and increase its presence in the highly profitable segment which has higher margin profile than other garment categories. The company is targeting Rs. 500 crore revenue from the brand launched in association with Tarun Tahiliani over next five years and is targeting to open 250 stores
Impact: Positive