ABFRL buys 51% in Masaba label for ₹90 cr
Premium- Brand Masaba, owned by designer Masaba Gupta, sells apparel, non-apparel, beauty and personal care products and accessories.
Aditya Birla Fashion and Retail Ltd (ABFRL) is set to pick up a 51% stake in House of Masaba Lifestyle Pvt. Ltd for ₹90 crore, the company informed the stock exchanges on Friday.
Brand Masaba, owned by designer Masaba Gupta, sells apparel, non-apparel, beauty and personal care products and accessories.
The investment will strengthen Aditya Birla Fashion’s play into fashion for the young and digitally native consumers, it added.
The companies will create a young, aspirational, and digital-led portfolio across affordable luxury in fashion, beauty, and accessories, it said.
With this investment, brand Masaba seeks to clock annual revenue of ₹500 crore in the next five years.
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New-age shoppers are seeking brands that are colourful, vivid, and digital, and the association marks an “important step in building presence in the fast-growing beauty and personal care segment,"Ashish Dikshit, managing director, ABFRL, said.
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