ABFRL announces partnership with designer Masaba Gupta
Biznextindia : Aditya Birla Fashion and Retail Limited has announced a strategic partnership with popular fashion designer Masaba Gupta to build a gen-next focused fashion and lifestyle business under the popular and contemporary brand “Masaba” by way of entering into a Binding Term sheet to acquire 51% stake in the entity.
This partnership aims to create a young, aspirational and digital-led portfolio play, across the affordable luxury segment in the fashion, beauty and accessory categories. Brand “Masaba” will be scaled predominantly through the digital direct to consumer (D2C) channel, leveraging its strong connect with younger and digitally influenced consumers.
The brand will straddle across the entire lifestyle offerings ranging from apparel, accessories, beauty and other lifestyle products. The brand is targeting to achieve annual revenues of around Rs. 500 Cr in the next 5 years. This partnership will also mark ABFRL’s entry into the beauty & personal care market in India, which offers tremendous opportunity to build distinctive, scalable home-grown brands. This is a rapidly growing segment driven by an increase in women shoppers, rise in disposable incomes and acceleration in digital influence.
“This partnership is also an important step in building presence in the fast-growing beauty and personal care segment. This fits in well with our overall strategy to partner India’s top most designers to build a portfolio of distinctive and aspirational home-grown brands across fashion and lifestyle categories” Mr. Ashish Dikshit, Managing Director, ABFRL said.