Fast fashion chain Pantaloons is just one of ABFRL’s many fashion brands. Shutterstock
One of India’s largest fashion retailers, Aditya Birla Fashion and Retail Ltd (ABFRL), posted a net profit of 5.09 crore rupees (about $685,000) for the July to September quarter, compared to a net loss of 188.22 crore rupees ($25.33 million) during the same quarter last year, according to a Press Trust of India report.
ABFRL, which is commonly called India’s first billion-dollar pure-play fashion company, said it had seen a “strong business rebound with 90 percent recovery over pre-Covid levels,” according to a statement from the company.
Encouraged by this rebound, ABFRL said it will now work to accelerate its growth by aggressively expanding its product portfolio, entering new consumer segments and growing its retail network. As of Sept. 30, ABFRL had a network of 3,264 stores.
The company’s brands include Louis Philippe, Van Heusen, Allen Solly and Peter England, as well as domestic fast fashion giant Pantaloons.
The Indian retail giant has acquired a 51 percent stake in the luxury fashion brand Sabyasachi, which produces apparel and accessories and has stores across India, the US, the UK and the Middle East.