Dubai-based Apparel Group is exploring an initial public offering (IPO) for its India business as the fashion and lifestyle retailer looks to capitalise on strong growth in one of its fastest-growing markets, according to people familiar with the matter.
It is believed that the company has had preliminary conversations with advisers and is currently assessing a possible public offering. The timing, amount, and format of a possible offering are still being discussed, and no final decision has been made.
Apparel Group operates a large portfolio of international fashion, footwear, beauty and lifestyle brands across multiple markets. The group has established a significant presence in India through brands including Aldo, Charles & Keith, Victoria’s Secret, Skechers, Crocs and Birkenstock, among others.
The potential IPO comes as Apparel Group accelerates its expansion strategy in India. The company has previously outlined ambitious plans to significantly increase its store footprint in the country and deepen partnerships with global brands. India currently contributes a growing share of the group’s overall business, with the company targeting a substantially larger contribution from the market in the coming years.
In recent years, the retailer has expanded its presence across fashion, beauty and lifestyle categories while also entering new segments through strategic partnerships. The group recently partnered with Carrefour to facilitate the French retailer’s return to India and has also been linked to potential acquisitions in the beauty and personal care space.
If pursued, the IPO would add to a growing pipeline of retail and apparel companies seeking to tap India’s capital markets, reflecting confidence in the country’s long-term consumer growth story.
