On 24 February 2021The Board of Aditya Birla Fashion & Retail at its meeting held on 24 February 2021 has noted completion of the closing
conditions under the Framework Agreement and approved acquisition of 51% stake of Sabyasachi
Couture (now Sabyasachi Calcutta LLP).
Consequent to the above investment, the Company will hold 51% stake in Sabyasachi Calcutta LLP entity.
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Earlier, Aditya Birla Fashion bought Finesse International Design, which sells bespoke apparel retail brand Shantanu & Nikhil, for Rs 60 crore. The Sabyasachi brand deals in categories such as apparel, accessories and jewellery and has a strong franchise in India, the US, UK and Middle East.
New Delhi: Aditya Birla Fashion & Retail (ABFRL) has acquired controlling stake (51%) in fashion designer Sabyasachi Mukherjee s Sabyasachi Couture for Rs 398 crore in an all-cash deal. The deal is expected to be completed in 30-45 days, Aditya Birla Fashion said in a statement. Established in 1990, the Sabyasachi brand deals in categories such as apparel, accessories and jewellery and has a strong franchise in India, the US, UK and Middle East, with annual revenue of Rs 274 crore.