Buoyed by a successful vaccination drive across the country and a steady recovery of Indian economy, consumers are expected to go back to shopping with renewed confidence, said Kumar Mangalam Birla in the company’s annual report for 2021-22.
“The next fiscal is going to be a race to normalcy for the industry with re-invigorated market sentiments,” Kumar mentioned.
The report emphasised on building digital capabilities to make it intrinsic to its business model. The company has substantially invested in digital platforms such as e-commerce, omnichannel and D2C business post-pandemic.
“With a digitally and structurally transformed business, your company is on a growth trajectory to make the most of post-pandemic opportunities,” added Kumar.
It’s worth noting here that ABFRL’s e-commerce channel posted strong growth with more than 1,000 stores of Madura brands and 300 stores of Pantaloons are now fully omnichannel enabled.
ABFRL, under Madura Fashion and Lifestyle business, owns leading apparel brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England. Its international brand portfolio includes India’s largest multi-brand retailer of international brands The Collective, Simon Carter and select mono-brands such as Forever 21, American Eagle, Ralph Lauren, Ted Baker and Fred Perry. ABFRL has also entered into a long-term licensing agreement with Reebok in FY ’22.