Aditya Birla Fashion to sell minority stake to Singapore’s GIC to raise Rs 2,195 crore

The company said it plans to use the capital to accelerate its growth engine "built around strength of its current businesses" along with a rapidly evolving play in "emerging high-growth business models".

ABFRL houses brands like Louis Philippe, Van Heusen, Allen Solly, Peter England, The Collective, Ralph Lauren, Hackett London, Ted Baker, Reebok, Forever 21, among others.

It has a network of 3,468 exclusive stores, 6,515 points of sale in department stores and 28,585 multi-brand outlets across India. As on March 2022, its revenue stood at Rs 8,136 crore.

"ABFRL has become one of the leading players in this market through its diversified portfolio of strong brands, wide distribution & an established business model and is well positioned to benefit from this opportunity. I am delighted to welcome GIC, a global institutional investor, as a long-term partner in the company’s exciting growth journey. An investment of this nature serves to underscore ABFRL’s strong position and dynamic growth model," said Kumar Mangalam Birla, Chairman of Aditya Birla Group.

Choo Yong Cheen, Chief Investment Officer of Private Equity for GIC, said, “We are delighted to partner with Aditya Birla Fashion and Retail to bring our long-term capital and resources to support its next phase of growth. ABFRL has a strong track record of building brands and its new business lines, including innerwear and ethnic wear, have strong structural tailwinds. We are confident that the company is well-positioned to continue its transformational journey into a future-ready consumer company powered by the growth of India."