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AVB to split Madura Garments

19
Jan '07
Madura Garments is going to be split into two different companies for its lifestyle and mass brands.

AV Birla Group (AVB) will launch MG Lifestyle Brands & Retail Business that will deal with brands like Louis Philippe, Allen Solly, Van Heusen, SF Jeans and Esprit.

The new entity will also operate retail chains such as Planet Fashion and Trouser Town.

The other company will be MG Popular Brands & Retail Business which will operate medium priced categories like Peter England. Both these companies will be internal division of AV Birla Nuvo.

This move is considered as strategy for growth in next five to ten years and to focus on brand building.

In financial year 2007, Madura Garment is to generate revenue of about Rs600 to Rs650 crore and has grown at the rate of 20 percent in recent years.

Experts believe that in future Peter England could play a vital role in AVB's hyper market retail venture.


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