Century Textiles is looking to devolve its textile business and merge it with Aditya Birla Fashion and Retail Ltd. (ABFRL) in their bid to bring the entire fashion and textile business of the Aditya Birla Group under one roof, the media reports claim. Century Textiles gets almost 9 per cent of its total revenue from its fabric and denim business and is also a supplier to Aditya Birla Fashion and Retail.
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Century Textiles has two key revenue streams – cotton fabric and denim facilities. Its cotton fabric vertical manufactures a wide range of premium textiles, and supplies to international buyers like Royale Linen, Ralph Lauren, DKNY, Belk and US Polo.
It may be mentioned here that recently Aditya Birla Fashion and Retail forayed into the men’s premium innerwear and athleisure (casual clothing such as yoga pants, sweat pants, etc.) market by introducing a new line under the Van Heusen brand. Industry experts are of the opinion that all these moves are a part of the Group’s strategies to restructure; expand its business operations; and get a better grip in the market. However, no official confirmation about the merger has come from the Group yet.