Aditya Birla Fashion and Retail Limited (ABFRL), which emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL’s Madura Fashion division and ABNL’s subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MF&L), is expecting a twofold increase in its retail business by FY 2020.
The company owns fashion brands like Peter England, Louis Phillipe, and Pantaloons. As per reports, its net profit is expected to reach Rs. 263 crore in the next fiscal with revenue of Rs. 9,200 crore.
During the previous quarter, revenue of ABFRL increased by 11 percent to Rs. 2,007 crore in the quarter.
The company expects its margin growth to continue by entering new categories and reduced discounts.
300 stores will be opened in the current financial year for several of its brands to make it big in Tier II and III Indian cities. The count was around 2,465 stores at the end of March this year.