Aditya Birla Fashion and Retail Limited, one of India’s leading fashion companies, has entered into strategic partnership with India’s leading designer Masaba Gupta to build a gen-next focused fashion and lifestyle business under the popular and contemporary brand “Masaba” by way of entering into a Binding Term sheet to acquire 51 per cent 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 is targeting to achieve annual revenues of around Rs. 500 crore in the next 5 years.
Ashish Dikshit, MD, 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.”
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.
