Aditya Birla Fashion buys 51% stake in Sabyasachi for Rs 398 crore
Sabyasachi is India s largest luxury designer brand, with interests in categories such as apparel, accessories and jewellery for both men and women, and presence in India, the US, the UK and the Middle East
BusinessToday.In | January 28, 2021 | Updated 00:06 IST
Aditya Birla Fashion and Retail Limited (ABFRL) has signed a definitive agreement to buy 51 per cent stake in designer brand Sabyasachi for Rs 398 crore. The deal is expected to be closed in late-February or mid-March, the company said in a regulatory filing. Through this investment, ABFRL will strengthen its position in the largest and amongst the fastest growing apparel segments, in line with its stated long-term strategy of building a formidable play in ethnic wear segment. Through Sabyasachi brand, ABFRL will be able to tap luxury and bridge to luxury segments across all categories such as apparel, jewellery and accessories, ABFRL said in the filin
It s official, Sabyasachi sells 51% stake to Aditya Birla Fashion
By IANS |
Published on
Wed, Jan 27 2021 20:33 IST |
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Sabyasachi. Image Source: IANS News
New Delhi, Jan 27 : One of the most influential labels, if not the reigning brand in Indian fashion, Sabyasachi, enters into a strategic partnership with Aditya Birla Fashion and Retail Limited (ABFRL) by which Aditya Birla Fashion has acquired 51 percent stake in the brand for an undisclosed amount.
The namesake label of designer Sabyasachi Mukherjee has been a leading retailer and couturier in Indian fashion since 1999 with a strong presence across the country and internationally. From humble beginnings in Kolkata, designer Sabyasachi Mukherjee has grown his brand from strength to strength, being the proud owner of what can only be called as India s first Luxury Fashion House in the real sense of the term.
January 21, 2021
× The bullish momentum for the stock markets will continue on Thursday too, as the global cues and Asian markets indicate positive beginning. The SGX Nifty, which is currently ruling at 14,705, is pointing a gap-up of opening of about 50 points for Nifty50. The January futures of Nifty50 closed on Wednesday at 14,645.
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The Competition Commission of India (CCI) on Wednesday approved the acquisition of a 7.8 per cent minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Private Ltd. The competition watchdog made the announcement in the evening on Twitter. Last October, Flipkart Group and Aditya Birla Fashion and Retail Limited (ABFRL) formed a new strategic partnership aimed at enhancing the consumer fashion experience. Through an investment of Rs 1,500 crore, Flipkart Investments said it will acquire about 7.8 per cent stake in ABFRL. The companies have partnered to leverage synergies in the fashion segment. Through this partnership, Flipkart Group will strengthen the range of brands offered on its e-commerce platforms Flipkart and Myntra. This would deepen its relationship with ABFRL, and enhance the range of premium international and Indian brands on offer. Flipkart’s technology prowess will enhance ABFRL’s omni-channel capabilities. This would enrich customer expe
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