Kumar mangalam Birla’s retail business is undergoing a makeover. After acquiring a majority stake in the Sabyasachi label and joining hands with Tarun Tahiliani for a men’s ethnic wear brand, Birla’s flagship retail company, Aditya Birla Fashion and Retail Limited, will now distribute and sell Reebok products in India and Asean nations across formats. With an instant presence in the growing sports and active-wear segments, Birla—who recently won the Global Entrepreneur of the Year Award from The Indus Entrepreneurs—is assured of Reebok’s loyal user base and pull value, and doesn’t need to build a new brand from scratch. In fact, the shoe seems the right fit for Reebok, too—the deal gives it a shot at revival in a market where its turnover has fallen from about Rs 800 crore in 2009 to Rs 321 crore last year. Time for a turnaround?
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today