India-based Aditya Birla Group has outlined plans to restructure its retail business and form a single listed company.
Sources familiar with the move were quoted by The Economic Times as saying that as part of the process the company intends to de-merge Fashion & Lifestyle vertical from Aditya Birla Nuvo and create a Madura Garments -led retail umbrella entity.
Madura Garments, Pantaloon Fashion & Retail, Jayashree and More may also be merged, the sources said.
The retail company has already started management briefing sessions with large private equity investors who expressed interest in new entity.
Meanwhile, a senior Aditya Birla Group executive declined to comment on the reports.
Aditya Birla Group operates in 36 countries, including Australia, Austria, Bangladesh, Brazil, Canada, China, , France, Egypt, Germany, Hungary, India, Indonesia, and Italy, among others.
The group marked its entry into the fashion retail with the purchase of Madura in 1999, while its foray into the food and grocery retail in 2007 was achieved through the acquisition of Fabmall and Trinethra supermarkets. In 2012, the department store chain Pantaloons was acquired from Kishore Biyani’s Future Group , reported The Times of India.
Madura Garments, a branded apparel and retail company, designs, manufactures, distributes, and retails apparel for men, women, youth, and children.