Investors cheer Aditya Birla Fashion's bets on ethnic wear after Tahiliani deal
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MUMBAI, Feb. 26 -- Shares of Aditya Birla Fashion and Retail Ltd (ABFRL) have risen around 9% since the company announced a strategic partnership with designer Tarun Tahiliani on Wednesday. ABFRL and Tahiliani will launch a contemporary men's ethnic wear brand, which will operate in the premium occasion wear segment at accessible price points.
Over the next five years, the new brand aims to build a Rs500 crore business. In the new entity, ABFRL will hold an 80% stake while Tahiliani the remaining 20%.
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ABFRL will also acquire a 33% stake in Tahiliani's existing luxury couture business, with the option to increase it to 51% in the next few years.
Analysts from Edelweiss Securities Ltd...
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