Aditya Birla Fashion and Retail Limited, has announced a 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% stake in the entity,an official statement highlighted.
This partnership aims to create a young, aspirational and digital-led portfolio play, across the affordable luxury segment in the fashion, beauty and accessory categories.
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, beauty 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.
Ashish Dikshit, Managing Director, ABFRL commenting on the partnership, 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 also an important step in building presence in the fast-growing beauty and personal care segment. This fits in well 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.
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 look forward to creating immersive and collaborative experiences for our target audiences who highly engage in virtual mediums today and are driving the industry’s evolution to the Metaverse.”
