This partnership aims to create a young, aspirational and digitally-led portfolio play on the affordable premium segment in the fashion, beauty and accessories categories, The two units said in a media release.
The Masaba brand will be expanded primarily through a direct-to-consumer (D2C) digital channel, leveraging its strong connections with younger and digitally influential consumers. The brand will focus on the full spectrum of lifestyle services, from clothing, accessories, beauty and other lifestyle products. The brand is aiming to achieve annual sales of around ₹500 crore over the next 5 years.
One of India’s leading fashion companies, Aditya Birla Fashion and Retail Limited, has announced a strategic partnership with top Indian designer Masaba Gupta to build a fashion business company. and the next generation focused lifestyle under the popular and contemporary brand ‘Masaba’ by joining a binding Terms sheet for a 51% stake in the legal entity.
This partnership will also mark ABFRL’s entry into the beauty & personal care market in India, providing a tremendous opportunity to build exceptionally scalable locally manufactured brands. . This is a segment that is growing rapidly thanks to an increase in the number of women shopping, increasing disposable income and the rise of digital influence.
Ashish Dikshit, Managing Director, ABFRL “As a new generation of local and digital young consumers discovering their needs in fashion and lifestyle, they actively seek out brands that are colorful, vibrant and technical,” said. number. Masaba is a young, bubbly brand with innovation and creativity across all lifestyle genres.
“This partnership is also an important step in building a presence in the rapidly growing beauty and personal care segment. This fits very well with our overall strategy of working with most of India’s top designers to build a portfolio of distinctive and aspirational home made brands across categories. fashion and lifestyle. ”
Masaba Gupta, founder, House of Masaba said, “As a young, homegrown brand, I’m delighted to partner with ABRFL to further strengthen House of Masaba into a 360-degree global lifestyle brand of the future. Inspired. from Indian consumers – Boasting ever-evolving Generation Z, the brand will introduce multiple product extensions that bring Cosmetics, Personal Care, Athleisure & Home Decor to its portfolio The House of Masaba has established a strong foothold among young people with a strong digital-first strategy, and its relationship with ABRFL strengthens this position, preparing the brand for the future. With this partnership, I aim to create a collaborative and enriching experience for our target audience, who are heavily involved in virtual media today and are driving industry growth towards the Metaverse. ”
The proposed acquisition is subject to the conclusion of final agreements, fulfillment of the precedent termination conditions set forth in the final agreements, and statutory approval, if applicable.
Fiber2 Fashion News Desk (KD)
