01-01-1970 12:00 AM | Source: Accord Fintech
Aditya Birla Fashion surges on signing licensing agreement with Authentic Brands Group
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Aditya Birla Fashion and Retail is currently trading at Rs. 278.40, up by 12.35 points or 4.64% from its previous closing of Rs. 266.05 on the BSE.

The scrip opened at Rs. 265.00 and has touched a high and low of Rs. 280.90 and Rs. 264.85 respectively. So far 238610 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 310.00 on 10-Nov-2021 and a 52 week low of Rs. 144.10 on 22-Dec-2020.

Last one week high and low of the scrip stood at Rs. 280.90 and Rs. 263.25 respectively. The current market cap of the company is Rs. 26155.13 crore.

The promoters holding in the company stood at 56.13%, while Institutions and Non-Institutions held 32.02% and 11.86% respectively.

Aditya Birla Fashion and Retail (ABFRL) and Authentic Brands Group (ABG), have signed a long-term licensing agreement, which grants ABFRL exclusive rights to distribute and sell Reebok products through wholesale, e-commerce and Reebok branded retail stores in India and other ASEAN countries.

This deal marks a foray for ABFRL into India’s fast-growing sports and active wear segment. Over the last few years, this segment has been growing rapidly on the heels of rising income levels, increased health consciousness and the adoption of active lifestyles by young Indians. This segment is expected to grow to $13 Billion by FY24 at an annual growth rate of around 14%. The transaction marks a significant milestone in the journey of ABFRL, which has evolved its portfolio into a powerhouse of brands across all major fashion and lifestyle segments over the last several years. The addition of Reebok, a marquee global sports and active wear brand will fill an important white space in ABFRL’s portfolio.

Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company's brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.