OPEN APP
Home / Companies / News /  ABFRL buys 51% in Masaba label for 90 cr
Listen to this article

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.

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.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Close

Recommended For You

×
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout