Buying a 51% stake in the House of Masaba for rupees 90 crores, Aditya Birla Fashion and Retail Limited enters into a partnership with designer Masaba Gupta.
The Indian fashion industry is undergoing a movement unlike before. Indian fashion designers are now opening up their companies to outside investment and strategic partnerships. Last year, veteran designers like Sabyasachi and Tarun Tahiliani partnered with Aditya Birla Fashion and Retail Limited and this year its fashion designer Masaba Gupta who joined the ranks. ABFRL, today (January 14, 2022) announced that it will enter into a partnership with Gen-next designer Masaba Gupta to build an affordable luxury lifestyle portfolio under her brand, Masaba. The company bought a 51% stake in the House of Masaba Lifestyle for rupees 90 crores.
Designer Masaba Gupta partners with Aditya Birla Fashion and Retail Limited
The company shared that with this new partnership they intend to create “a young, aspirational and digital-led portfolio play, across the affordable luxury segment in the fashion, beauty and accessory categories.” The partnership also allows the brand, Masaba to form a stronger connection with younger and digitally influenced consumers. The long term goal of the partnership is to achieve annual revenues of around Rs. 500 Cr in the next 5 years.
The designer took to Instagram to announce the new chapter at the House of Masaba and how the partnership wih ABFRL comes on the auspicious occassion of Makar Sankranti, Pongal and Bhogi that marks the change of season and fortune.
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Expressing her delight with the new partnership, Masaba Gupta shared that the partnership is sure to “help solidify the House of Masaba into a 360-degree, global lifestyle brand of the future. And that 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.”
Header Image: Masaba Gupta Instagram. All other images: Courtesy the brand.