What: Aditya Birla Fashion and Retail (ABFRL) inducted Ananya Birla and Aryaman Vikram Birla as directors on its board.

Why it is important: Aditya Birla has partnered with Galeries Lafayette to open luxury department stores and a dedicated e-commerce platform in India.

Ananya Birla and Aryaman Vikram Birla, children of Kumar Mangalam Birla, the chairman of ABFRL, were inducted as directors on the conglomerate’s board.

The siblings will bring new energy and knowledge to the board of ABFRL, as they have already seen success on their own. Ananya’s company, which she founded at the age of 17, is one of India’s fastest-growing microfinance institutions and has crossed an AUM of USD 1 billion. Aryaman is involved with several businesses in the Aditya Birla Group and helped start the group’s D2C platform in addition to spearheading the group’s venture capital fund

ABFRL sells clothes and accessories from Louis Philippe, Van Heusen, Allen Solly, and Peter England and covers all major segments of the Indian apparel market.

KM Birla’s daughter and son inducted into ABFRL board