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ABFRL shares: Madura’s business may see multiple re-rating, said Kotak Institution Equities. But the brokerage said it would wait for strategic direction from the management.
The restructuring will help bring in sharper focus anchored on a differentiated strategy aligned with the individual business segment, said MD of ABFRL.
Aditya Birla Fashion and Retail Ltd. (ABFRL) announced on Monday its intention to assess the vertical demerger of its Madura Fashion & Lifestyle business from ABFRL into a separate listed company. The decision was made during the Board of Directors meeting, granting authorization to evaluate this strategic move.
Jacob John, president of premium brands at ABFRL, "This expansion aligns with our ambitious growth strategy as we continue to expand our retail footprint across the globe, following recent openings in Mauritius and the UAE."
Bharat Tex 2024: Speaking to ETRetail on the sidelines of the discussion, Rahul Mehta, Chief Mentor, CMAI said, “We want retail to be recognised as an industry. It is today a state subject, thus companies have to follow different regulations, leading to complexity.”