Tag: Mr. Ashish Dikshit

Business World

Aditya Birla Fashion and Retail Announces Strategic Partnership with designer Tarun Tahiliani…

Feb 25, 2021 by Rekha Nair 0 Comments #ABFRL, #Founder & CEO, #Managing Director, #Mr Tarun Tahiliani, #Mr. Ashish Dikshit, #Tarun Tahiliani Brand

India’s leading fashion company, Aditya Birla Fashion and Retail Limited (ABFRL) has announced a strategic partnership with India’s ace designer Tarun Tahiliani to form a new entity that will soon launch a contemporary men’s ethnic wear brand. The new brand will operate in the premium occasion wear segment and will offer the entire range of high quality, sophisticated celebration wear for men at accessible price points. The new brand aims to build a Rs 500 Cr business in the next 5 years with more than 250 stores across the country. The brand will launch the first set of retail stores by September ’21. ABFRL will hold 80% stake in the new entity while Tarun Tahiliani will hold the remaining 20%.

As part of the deal, ABFRL will also acquire 33% stake in the existing Luxury Couture business of Tarun Tahiliani, with the option to increase it to 51% in the next few years.

Commenting on the partnership, Mr. Ashish Dikshit, Managing Director, ABFRL said: “We believe that over the next few years, ethnic wear is going to be an important category as confident Indians rediscover their culture and heritage. Tarun Tahiliani has been at the forefront of the emergence of the Indian design industry. We are proud to partner with him to launch a new brand that gives the emerging Indian consumer a new range of celebration wear reflecting the unmatched, exquisite design excellence at more accessible prices.

The ethnic wear segment is a large and growing market with a significant opportunity to build scale. The combined expertise of Tarun Tahiliani and ABFRL will enable the new brand to make a strong impact in the market. The existing couture brand will continue to benefit from the fast-growing luxury segment of the market. This partnership is in line with our stated strategy to craft a portfolio of brands that address the entire gamut of ethnic wear segments: value, premium and luxury.”

Mr Tarun Tahiliani, Founder & CEO, Tarun Tahiliani Brand commented, “Last year, we celebrated 25 years of the Tarun Tahiliani label. The next big leap for the brand was to take our craftsmanship and expertise and offer it to a larger Indian market that knows and values quality and is actively seeking it. I was clear that we needed a partner who could not just help us with this scale, but also have the same dedication to quality and the customer. And that could only have been the Aditya Birla Group. Over the years, I have admired what Mr Kumar Mangalam Birla has built and created for the Aditya Birla Group, specifically his landmark excellence in building fashion retail in India.

I am excited and look forward to this unique opportunity of taking our signature India Modern aesthetic to a broader consumer base across the country. The Tarun Tahiliani brand will continue to be the studio doing couture and occasion wear, building on its experience and success.”

The proposed acquisition is subject to necessary statutory approvals and signing of definitive agreements.

Business World, News

S&P Global CSA 2020 announces ABFRL as Asia’s `Most Sustainable Company’ in Textile, Apparel & Luxury Goods Industry

Dec 29, 2020 by Rekha Nair 0 Comments #Managing Director, #Managing Director of ABFRL, #Mr. Ashish Dikshit, #Mr. Edoardo Gai, #SAM a part of S&P Global

Hyderabad: Aditya Birla Fashion and Retail Limited (ABFRL), the powerhouse of fashion and retail sector is positioned as Asia’s `Most Sustainable Company’ and globally ranked 8th in the Textiles, Apparel & Luxury goods Industry for its Environmental, Social and Governance (ESG) performance in the 2020 edition of S&P Global Corporate Sustainability Assessment. The CSA methodology is used, among others, to select the companies for the Dow Jones Sustainability Indices (DJSI).

Commenting on the occasion, Mr. Ashish Dikshit, Managing Director of ABFRL said, “We are delighted that ABFRL has been positioned first in Asia and 8th Globally in Textiles, Apparel & Luxury Industry category based on S&P Global Corporate Sustainability Assessment 2020. These rankings reflect our commitment towards enhancing economic, governance, social, and environmental initiatives at ABFRL. Over the past decade, ABFRL has been a pioneer in driving sustainability to the forefront of the Fashion and Retail Industry. As a responsible Organisation, we aim to provide thought leadership and accelerate the sustainability drive in the industry.”

Mr. Edoardo Gai, Managing Director, SAM a part of S&P Global said, “We congratulate Aditya Birla Fashion and Retail Limited for achieving the highest score of all Asian companies in the Textiles, Apparel and Luxury Goods Industry and a global industry rank of eight, based on the Corporate Sustainability Assessment (CSA) 2020. This is a reflection of being a sustainability leader in your industry. With a record number of companies participating in the 2020 Corporate Sustainability Assessment, this sets your company apart and rewards your continued commitment to people and planet.”

Every year the S&;P Global Corporate Sustainability Assessment methodology is used to assess global companies and ranks the companies based on their ESG performance. ABFRL score was reflection of its virtue of vision, continuous efforts, commitment and efficient sustainability work in the areas of the corporate governance & economic, environmental and social dimensions.