More (store)

Aditya Birla Retail Limited
Subsidiary
Industry Retailing
Founded 2007
Founder Kumar Mangalam Birla
Headquarters Mumbai, India
Number of locations
 509 - SuperMarkets, 20 HyperMarkets
Key people
 Mr. Mohit Kampani (CEO)
Products Supermarket
Hypermarket
Brands more.
Number of employees
 over 11,000
Website morestore.com

Aditya Birla Retail Limited (ABRL) is the retail arm of Aditya Birla Group company.[1] ABRL is the fourth largest supermarket chain in the country after Future Group, Reliance Retail and D-Mart.[2] It operates two different store formats - Supermarket and Hypermarket under the brand more.. It has about 590 supermarkets and 23 hypermarkets around the country.[3] ABRL provides online grocery retail services in Bangalore, NCR, and Pune through its e-Commerce website MyMoreStore. ABRL plans to open 100 supermarkets and 6-8 hypermarkets. To fund this expansion, ABRL has borrowed Rs 500 crore from Yes bank.[4] Besides this, it has decided to increase its borrowing limit to Rs 7,500 crore from Rs 5,000 crore.

Aditya Birla Retail Limited provides customers products under its own labels. Private label Food Brands include Feasters, Kitchen's Promise, and Best of India. Home & Personal care brands include Enriche, 110%, Pestex, Paradise and Germex.[5] As per a report in Economic Times, Aditya Birla Retail Ltd ( ABRL) with its 500 + 'More' branded supermarkets and 14 hypermarkets reported sales of Rs 1,966 crore and a net loss of Rs 650 crore in the year ended March 2012. The company has accumulated losses of Rs 2,984 crore since it entered the segment over six years ago. The company achieved EBITDA positive in FY 2017 which made the company break even.

History

Aditya Birla Group entered the retail industry with the acquisition of Trinethra Super Retail in 2007.[6] Trinethra Super Retail had a strong footprint with over 172 stores spread across four states - Andhra Pradesh, Karnataka, Tamil Nadu and Kerala. In Tamil Nadu and Andhra Pradesh, Trinethra brand was being used, while in Karnataka and Kerala, Fabmall brand was being used. Later, all the stores were rebranded as more. stores.[7]

Restructuring

On July 15, 2015, Kumar Mangalam Birla announced the merger of all the retail businesses and create a single listed company.[8] As a part of this restructuring effort, Fashion & Lifestyle business will be de-merged from the Aditya Birla Nuvo and merged with other retail businesses. It is likely that after the merger is complete, about 10% of the stock would be sold to PE players to raise Rs. 3000 crore. However, the restructuring plan has yet not been finalized.[9]

References

  1. ↑ "Aditya Birla Group | Companies | Indian companies | Aditya Birla Retail Limited". Adityabirla.com. 2010-06-23. Retrieved 2011-02-11.
  2. ↑ "Aditya Birla Retail borrows Rs 500 crore from Yes Bank". timesofindia-economictimes.
  3. ↑ "Forgot Password -". morestore.com.
  4. ↑ "Aditya Birla Retail borrows Rs 500 crore from Yes Bank". Economic Times. 2014-07-07. Retrieved 2014-07-21.
  5. ↑ http://www.adityabirla.com/businesses/Profile/aditya-birla-retail-limited
  6. ↑ "Trinethra: Birla's first retail takeover". timesofindia-economictimes.
  7. ↑ http://www.adityabirla.com/Media/aditya-birla-retail-re-brands-fabmall
  8. ↑ "Aditya Birla Group to merge all retail businesses to create one listed company". timesofindia-economictimes.
  9. ↑ Madhura Karnik. "Aditya Birla Group says retail restructuring plan not yet fixed". livemint.com/.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.