Birla lifestyle brand arm plans to invest ₹300 cr every year

ABLBL has more than 3,250 stores, with 70% of the outlets run by franchisees under an asset-light model

- Dipali Banka & Vaeshnavi Kasthuril

Newly listed Aditya Birla Lifestyle Brand Ltd is betting on its multi-brand portfolio to double its revenue and improve profitability threefold in the coming years, according to a senior executive.

"We plan to invest ₹300-odd crore every year, a large part of it will go into the expansion of the retail network," said Ashish Dikshit, managing director of Aditya Birla Lifestyle Brands Ltd (ABLBL), during the company's listing on exchanges. It was spun off from Aditya Birla Fashion and Retail Ltd.

Shares of ABLBL closed 4.98% lower at ₹159.40 apiece on Monday compared with a 0.56% decline in Nifty 50.