Masaba is now 51 percent owned by Aditya Birla Fashion & Retail
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15 January 2022, Mumbai:
By entering into a binding term sheet to acquire a 51 percent stake in the entity, Aditya Birla Fashion and Retail Limited, one of India's leading fashion companies, has entered into a strategic partnership with India's leading designer Masaba Gupta to build a gen-next focused fashion and lifestyle business under the popular and contemporary brand "Masaba".
Masaba's brand will primarily be scaled through the digital direct-to-consumer (D2C) channel, leveraging its strong connection with younger and digitally impacted customers.
In the next five years, the brand hopes to generate annual revenues of roughly Rs. 500 crore. "As a new generation of young and digitally native customers explore their demands within fashion and lifestyle, they actively seek brands that are colourful, vibrant, and digital," said Ashish Dikshit, MD, ABFRL. Masaba is a youthful, vivacious brand that takes a fresh and original approach to every lifestyle sector."
"As a new, homegrown company, I am happy to join with ABRFL to further consolidate the House of Masaba into a 360-degree, global lifestyle brand of the future," Masaba Gupta, Founder, House of Masaba, stated.
The brand will launch several product expansions to its portfolio, including cosmetics, personal care, athletic wear, and home decor, all inspired by the ever-evolving, India-Proud Gen Z customer.
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