Aditya Birla Fashion & Retail Limited (ABFRL) is set to pick up a 51% stake in House of Masaba Lifestyle Pvt. for ltd 90 crore, the company informed the stock exchanges on Friday.
Masaba, a brand owned by designer Masaba Gupta, sells apparel, non-apparel, beauty and personal care products and accessories.
This investment will strengthen the game in fashion for Aditya Birla Fashion’s young and digitally native consumers, it added.
The company will create a young, ambitious and digitally led portfolio of affordable luxury in fashion, beauty and accessories.
With this investment, the brand wants to achieve the annual revenue of Masaba 500 crore in the next five years.
Ashish Dixit, Managing Director, ABFRL said, “New age buyers are looking for brands that are colourful, vivid and digital and the association is an important step in building a presence in the fast growing beauty and personal care segment.
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