Aditya Birla Fashion Retailer Ltd is planning to create a business from its traditional wear acquisitions over four to five years to take on brands like Manyavar and Biba. It has recently entered the segment by fully acquiring Jaypore and TG Apparel and also entered into a partnership with designers Shantanu and Nikhil with a 51 per cent stake in Finesse.
The company foresees building at least a ₹200-300-crore business in the medium term, chief financial officer Jagadish Bajaj told analysts in a post-earnings conference call.Aditya Birla Fashion Retailer Ltd is planning to create a business from its traditional wear acquisitions over four to five years to take on brands like Manyavar and Biba. It has recently entered the segment by fully acquiring Jaypore and TG Apparel and also entered into a partnership with designers Shantanu and Nikhil with a 51 per cent stake in Finesse.#
Launched in 2012, Jaypore currently has two stores and largely sells women’s clothing and accessories online.
The company is also working on launching a more affordable range of clothing under the Shantanu & Nikhil brand that now sells more pricey clothing, according to a report in top newspaper in south India. It will take some time to turn around Jaypore as it is loss-making, but the other new acquisitions do not have much losses, Bajaj said.
Fibre2Fashion News Desk (DS)
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