Aditya Birla Fashion and Retail buys 51% stake in designer brand Sabyasachi, Retail News, ET Retail

Davida Erdahl

NEW DELHI/MUMBAI: Aditya Birla Fashion and Retail (ABFRL) is established to buy fifty one% stake in Sabyasachi Couture for Rs 398 crore.

Via this financial commitment, the Rs eight,788-crore ABFRL will reinforce its participate in in the ethnic have on phase.

Included in 1990 by its namesake, designer Sabyasachi Mukherjee, Sabyasachi described revenues of Rs 274 crore in fiscal 2020.

The brand straddles groups these as clothing, equipment and jewelry and has franchise in India, US, United kingdom and the Center East.

ABFRL explained that the strategic partnership will complement brand Sabyasachi on its journey to getting to be a international luxury property out of India.

This partnership will add considerable excess weight to ABFRL’s rising ethnic have on portfolio. The company expects to create a big ethnic have on business in excess of next several several years to complement its sturdy and diverse portfolio in western have on phase

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