Aditya Birla Fashion & Retail Limited (ABFRL), which owns Madura Fashion and Pantaloons Fashion and Retail, is planning to launch around 470 stores across India in FY20. This expansion plan is in line with the company’s efforts to strengthen its footprint across the country.
Currently, the company has more than 2,700 stores.
Ashish Dikshit, Managing Director, Aditya Birla Fashion & Retail Limited, said, “We are looking at adding about 400 stores for Madura and about 60-70 stores for Pantaloons this year.”
ABFRL’s Madura business segment consists of lifestyle brands like Louis Philippe, Van Heusen, Allen Solly and Peter England, and fast fashion labels such as Forever 21 and People. Madura’s revenue increased 9.62% to Rs 1,210.35 crore for this quarter from Rs 1,104.06 crore in Q1 of 2018.
“Sometimes when the markets are not very good, wholesalers would tend to lower the level of stock, which means a primary purchase will come down. But that shouldn't worry us because it will come back as soon as the consumers are back in the market is back,” Ashish stated.