The Indian fashion group saw revenue for the quarter ended March 31 increase 25 percent over pre-Covid levels to 2283 crore rupees ($294 million), with EBITDA surging 58 percent year-on-year to 401 crore rupees.
In the month of March, Aditya Birla Fashion and Retail (ABFR)’s revenue experienced 50 percent year-on-year growth due to “a rapid revival in demand across categories”, offsetting the impact of the third wave of Covid which occurred during the first part of the quarter, the company said.
The group reported that its e-commerce channel grew by 81 per cent year-on-year, with Pantaloons.com growing by 63 per cent over last year.
As of March 31, the fashion group had 3,468 stores and a presence in about 28,585 multi-brand outlets along with 6,515 counters or concessions in department stores across India.
The group has been on an investment spree over the past 18 months. Earlier this year, it acquired a 51 percent stake in House of Masaba Lifestyle Private Limited and in 2021 it took stakes in Indian luxury labels Sabyasachi and Tarun Tahiliani. The group also recently signed a long-term licensing agreement to exclusively sell Reebok products in India and other ASEAN countries.
The Indian fashion retail giant will set up a new entity to acquire and incubate digital-first fashion, beauty and lifestyle brands, according to regulatory filings.