Home / Knowledge / News / Apparel/Garments / Pantaloon catapults Aditya Birla Nuvo to pole position
Pantaloon catapults Aditya Birla Nuvo to pole position
01
May '12
The majority stake picked up the Kumar Mangalam Birla-led Aditya Birla Nuvo in the apparel business of Pantaloon Retail has set the stage for a consolidation of the garment retail business in India.

This single move, would firmly catapult the clothing division of Aditya Birla Nuvo - Madura Garments & Lifestyle to pole position and make it the single largest apparel retailer in India.

Under the deal, apparel retail stores under the Pantaloons format will be spun off from Pantaloon Retail, into a separate entity. It is expected that this separate entity will be merged in to Aditya Birla Nuvo in the near future.

While Madura Lifestyle has a strong line-up of men's brands, the acquisition will give the Aditya Birla Nuvo access to a large section of the market like women's and childrenwear categories.

Aditya Birla Nuvo which has in its fold premium garment brands like Louis Philippe, Van Heusen, Allen Solly, Peter England, People and The Collective will buy the stake for Rs 8 billion.

Currently, Pantaloon has 65 Pantaloon stores in 31 cities, besides 21 factory outlets and has a retail footprint of 2 million square feet, with 21 more stores in the offing.

On the other hand, Madura has more than 1,000 exclusive branded outlets with over 1.5 million square feet of retail space. The company's brands are also available in over 100 large format stores like Central, Lifestyle, Shopper's Stop, Reliance and Max, etc.

Speaking about the deal, Kumar Mangalam Birla, chairman of the $35-billion Aditya Birla Group, said, “The proposed acquisition is in line with our strategic intent to be on top of the league and to create the largest integrated branded fashion player in the country through an extension into the value segment."

Kishore Biyani, CEO, Future Group, said, “This marks a unique coming together of brands and enterprise that will create significant value for customers, suppliers and all stakeholders."

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search