Sabyasachi says growth in e-commerce and Omni-channel playa are being pushed in tandem . E-commerce sales increased 56% YoY (YoY) year on year .
Mumbai (Maharashtra), (India), August 6 (): Performance Highlights1.In Q1, the momentum from H2 2013 continued, with increased consumer confidence leading to increased web traffic across industries and channels.a.Revenue increased by 39% over the period before COVID to Rs 2875 crore.Q1 Quarterly adjusted EBITDA increased to Rs 500 crore.a.In Q1 FY233, the EBITDA margin increased by 130bps relative to pre-COVID levels to 17.4 percent.Continued growth in markets and brandsa.With a network of more than 500 stores, small-town formats delivered promising results;b. Pantaloons introduced new private label brands to meet evolving market demands4.Enhanced E-commerce and Omni-channel playa are being pushed in tandem. The Company's financial results for the quarter ended June 2022 were approved by the Board of Directors of the company at its meeting today.These financial statements are post factoring in the required changes under Ind AS 116.Q1 Financial Reports-A strong quarterly performance was attributed to a strong rise in demand across segments and a strong preference for our brand portfolio.The quarter's growth was primarily driven by aggressive retail expansion, increased E-commerce, and omni-channel play. The e-commerce sector increased by more than 50% YoY.The Pantaloons business saw its highest-ever Q1 profit of Rs1027 crore, while EBITDA increased by 33% relative to pre-COVID levels.The E-commerce market grew by 70% YoY, with strong success on its own channel due to improved customer experience and engagement.Other businesses -The Innerwear & athleisure segment reported the highest-ever quarterly revenue increase thanks to network expansion and strong E-commerce growth. 5,000 employees, the firm continued to expand its trade network.With about 2,000 new trade outlets to close the year, there will be almost a million new stores opening.The American Eagle and Forever 21 youth fashion segment, which has 29000 outlets, has seen strong growth.American Eagle's turnover is now almost three times higher than pre-COVID levels, and it is quickly establishing itself as a premium denim wear brand. Tasva also added 6 new stores to its network, allowing it to close the quarter with 12 stores.Revenue increased by 160% compared to the previous year, according to Sabyasachi.OutlookCustomer satisfaction increased, value transition to the organized industry was implemented, and a robust omnichannel presence resulted in strong growth and increased profitability.In the coming quarters, we expect this momentum to extend, with a further increase during the festive season.ABFRL will continue to invest in strengthening our brand propositions and driving sales through both physical and online outlets.We are optimistic about the long-term prospects of the Indian Apparel industry and remain focused on providing strong, steady, profitable growth.