Aspiring for ‘More’

IIPM BEST B-SCHOOL

AV Birla Group now plans to diversify into retail

What is required to build a spectacular, unfatomable global footprint? The $24 billion Aditya Birla Group should know. The group has 50% of its revenues pouring from its operations across the world. The combined turnover of the group was $9 billion in FY ’07, as compared to $6 billion in FY ’06. Profits were at $1.25 billion in FY ’07, as against $0.73 billion in FY ’06.

The K. M. Birla-led group made reverberations with the entry in the telecom segment by way of Idea Cellular acquisition in 2006. The $6 billion acquisition of Novelis, an aluminum rolling and recycling company, in 2007 showcases a gargantuan appetite for expansion, which is also being seen in the cement & VSF, where the company is making massive expansion plans.

And now, albeit a trifle late in the day, the group wants to enter retail with the brand name ‘More’. Birla reveals, “Our mission is to change the way people shop. We will give them more.” Surely, the investors would not mind ‘more’ either!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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