ABFRL to set up the D2C platform; build a portfolio of fashion and lifestyle brands
Aditya Birla Fashion and Retail Limited (ABFRL) has announced plans to establish a platform for foray into the Direct to Consumer (D2C) sector. ABFRL’s board of directors has approved the creation of a new subsidiary for building a D2C wallet, an official statement pointed out.
The company will build a portfolio of distinct, new-era digital brands across all categories of fashion, beauty and other allied lifestyle segments, a press release said.
The newly incorporated entity will organically incubate and also acquire promising and scalable D2C brands. In addition to providing growth capital, ABFRL’s proposal leverages its strong operational expertise in which it will use its wealth of experience and capabilities to develop this portfolio.
Ashish Dikshit, Managing Director, ABFRL commented on the decision and said: “We are excited about the D2C opportunity in India. At ABFRL, we want to build the next set of iconic brands in the digital space as we evolve with our changing consumers. By leveraging our core design, product creation, sourcing and branding capabilities that have enabled us to create some of India’s most beloved fashion brands in the offline space , we now want to create a successful wallet in the digital space as well. We are confident that this foray will successfully meet the aspirations of digital native customers and also create long-term value for investors and other stakeholders.”
The company will now accelerate the process of building the D2C framework and identifying key talent for this piece. ABFRL will seek to tap into the broader technology ecosystem and collaborate effectively with its e-commerce partners, technology service providers and digital marketing agencies to rapidly grow this business.