ABFRL ANNOUNCES PARTNERSHIP WITH GEN-NEXT FOCUSED DESIGNER MASABA GUPTA TO BUILD AN AFFORDABLE LUXURY LIFESTYLE PORTFOLIO UNDER BRAND “MASABA”
India’s leading fashion company, Aditya Birla Fashion and Retail Limited, today announced a strategic partnership with India’s leading designer Ms. Masaba Gupta to build a gen-next focused fashion and lifestyle business under the popular and contemporary brand “Masaba”. This partnership aims to create a young, aspirational and digital-led portfolio play across the affordable luxury segment in fashion, beauty and accessory categories. A binding agreement to this effect has been signed today that gives ABFRL majority stake in the entity.
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 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.
Commenting on the partnership, Mr. Ashish Dikshit, Managing Director, ABFRL said: “As a new generation of young and digitally native consumers explore their needs within fashion and lifestyle, they actively seek brands that are colourful, vivid and digital. Masaba is a young, effervescent brand with a refreshing and innovative take on every lifestyle category.” He added, “This partnership is an important step in building presence in the fast-growing beauty and personal care segment. This fits in 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.
Ms. Masaba Gupta, Founder, House of Masaba said, " As a young, homegrown brand I am delighted to partner with ABRFL to further solidify the House of Masaba into a 360-degree, global lifestyle brand of the future. Inspired by the ever-evolving, India-Proud Gen Z consumer, the brand will introduce multiple product extensions bringing Cosmetics, Personal Care, Athleisure & Home Decor to its portfolio. The House of Masaba already has established a strong foothold among the youth with a robust digital-first strategy and the tie-up with ABRFL will strengthen this position, making the brand future ready. With this partnership, I also look forward to creating immersive experiences for our target audience, that is already engaged in virtual mediums today and is driving the industry's evolution to the Metaverse.''
The proposed acquisition is subject to necessary statutory approvals and signing of definitive agreements.
ADITYA BIRLA FASHION AND RETAIL LIMITED
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Registered
Office: |
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Piramal Agastya Corporate Park, Building ‘A’, |
CIN: L18101MH2007PLC233901 |
Website: www.abfrl.com |
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4th and 5th Floor, Unit No. 401, 403,
501, 502, |
Tel.: +91 86529
05000 |
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L.B.S. Road, Kurla, Mumbai
- 400 070 |
Fax: +91 86529
05400 |
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About Aditya Birla Fashion and Retail Limited
ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. It is India’s largest pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
As of 30th September 2021, The Company has a network of 3,264 stores across approximately 26,841 multi-brand outlets with 7,094+ point of sales in department stores across India.
It has a repertoire of market leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. Pantaloons is one of India’s largest value fashion retail brand. The International Brands portfolio includes - The Collective, India's largest multi-brand retailer of international brands, Simon Carter and select mono-brands such as Forever 21, American Eagle, Ralph Lauren, Hackett London, Ted Baker and Fred Perry. Additionally, the company has also made a foray in branded ethnic wear through the acquisition of Jaypore brand and partnerships with India’s leading designers Shantanu and Nikhil, Tarun Tahiliani and Sabyasachi.
About Masaba Gupta
Founded in
2009, House of Masaba is the eponymous label by Masaba Gupta that is deeply
rooted in India with a global heart. The bridge-to-luxury brand offers
trendsetting styles of Prêt, Indian and Indo-Western outfits that are
age-versatile and functional. The brand is the perfect choice for the global
consumers who are traditional yet have modern style sensibilities.
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