Aditya Birla Fashion partners with Finesse to expand biz

India’s leading fashion company, Aditya Birla Fashion and Retail entered into a partnership with India’s leading designers Shantanu & Nikhil with the acquisition of 51 per cent stake in Finesse International Design Private Limited.

Finesse International Design is mainly engaged in the business of bespoke occasion and ceremonial contemporary apparel for men and women under the brand name Shantanu & Nikhil. Indian ethnic wear is a large segment in the Indian fashion market and with this partnership, ABFRL would further enhance its presence on this segment.

Looking at the financials, the company has closed FY19 with strong numbers. The revenue jumped by 13 per cent to Rs. 8,117.72 crore while EBITDA rose by 18 per cent to Rs. 554.07 crore and net profit came in at Rs. 321.22 crore, up 173 per cent YoY.

On Monday, the stock opened at Rs. 209.45 per share and made an intraday high and low of Rs. 210.65 and Rs. 202.90, respectively on the BSE. The stock finally settled the day at Rs. 206.45.