Birla Eyes Billion-Dollar Club for clothing brands, and brandedquity

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Aditya Birla Group provides that four of its lifestyle-style brands Philippe, Van Heusen, Allen Solly and Peter England-to reach the status of billions of dollars within a decade, benefiting from the growing interest of consumers for fashion and the most discreet expenditure, among other factors.While international lifestyle brands such as Louis Vuitton, Nike, Chanel and Adidas have reached the status of many billion dollars, Indian fashion brands have yet to reach the milestone from billions of dollars. Currently, Louis Philippe and Van Heusen generate sales plus RS 2,000 crores, with Allen Solly and Peter England who have exceeded 1,000 crores each. To make a comparison, the Raymond brand, owned by Gautam Singhania, generates sales greater than RS 3,000 crores.

The Aditya Birla group ventured into fashion and lifestyle in 1999 by purchasing the four brands from Coats of European society. Since then, the clothing business has seen several structural reorganizations. Initially operating as a division of Indian Rayon and Industries, the four brands were subsequently transferred to fashion and raise to Deditya Birla. Currently they operate with Aditya Birla Lifestyle Brands, who started making negotiation for stock exchange bags on Monday. His shares closed at RS 159 on the BSE, showing a drop of almost 5%.The president of the Kumar Mangalam Birla group said: “Our ambition is clear: to build the first housing of brands of billions of dollars in fashion and lifestyle”. The Marchi quartet, which started their trip to men’s clothing, has since diversified their range of products to include women’s clothing, footwear, bags and fashion accessories. The Indian fashion industry should expand to $ 170 billion by 2030, representing an increase of 1.5 times compared to current data.

According to the group, this expansion, led by consumers who move from products without brand, presents an “incredible opportunity” for brands to grow substantially.