May 8, 2018
Aditya Birla Fashion & Retail to consider proposal for raising of funds
May 8, 2018
Aditya Birla Group’s fashion entity Aditya Birla Fashion & Retail Limited (ABFRL) had its first board meeting of the new financial year 2018-19 where in it was decided to consider proposal of fund raising among other things.
“The Board will also consider a proposal for raising of funds through issuance of Equity Shares and/or any other security/ financial instrument convertible into Equity Shares (including warrants or otherwise, in registered or bearer form), either by way of one or more public/ private issue, qualified institutional placement, preferential issue, rights issue or any other mode as may be permissible under applicable laws or a combination thereof, subject to such regulatory/ statutory approvals as may be required, including approval of shareholders of the Company, if applicable”, the company informed in a BSE filing.
After recovery in the last few quarters, the fashion firm is looking to further consolidate its hold in India’s fashion retail market with strategic investments in its profitable brands.
ABFRL plans to relaunch its fashion portal Abof (All about fashion) through which its wants to promote and push its private labels which tend give higher profit margins due to lower production costs and greater ease of inventory management.
The company had also stated that it will expand the physical network of its retail stores and profit making brands across the country. ABFRL recently partnered with Ralph Lauren and expected to open first India store for the brand later this year inside the Emporio mall at Chanakyapuri in New Delhi.
Aditya Birla Fashion owns the exclusive rights for international brands Forever 21, Ted Baker, Simon Carter among many others. Currently, ABFRL has over 8,000 points of sale across India, which includes more than 2,000 exclusive ABFRL brand outlets in India and abroad.
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