ABFRL directors approve new direct-to-customer platform
Aditya Birla Fashion Retail Limited has stepped into direct-to-customer retail as the business’ board of directors approved the launch of a new subsidiary dedicated to building a D2C portfolio.
On February 4, ABFRL announced that it aims to set up a D2C platform on which it will build a portfolio of digital brands in product categories including fashion, beauty, and lifestyle, among others, ET Bureau reported. The business plans to fund the development through internal accruals and also plans to acquire more D2C brands in the future to expand its presence in the category.
“We are excited about the D2C opportunity in India,” said ABFRL’s managing director Ashish Dikshit, the Press Trust of India reported. “At ABFRL, we want to build the next set of iconic brands in the digital space as we evolve with our changing consumers.”
“Leveraging our core capabilities around design, product creation, sourcing and brand building that have enabled us to create some of India’s most loved fashion brands in the offline space, we now wish to craft a blockbuster portfolio in the digital space as well,” said Dikshit.
ABFRL plans to bring in external capital to fund the development of its D2C business as it expands in the future. The business retails a wide range of clothing brands in India including Allen Solly and Van Heusen, among others, and has a retail network of over 3,000 stores in India.
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