Aditya Birla Fashion and Retail inks deal to buy 51% stake in designer brand Sabyasachi

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Aditya Birla Fashion and Retail Ltd. has signed a definitive agreement to acquire 51% stake in India’s largest designer brand Sabyasachi.

Sabyasachi is one of India’s largest and most influential luxury designer brands and has presence in categories such as apparel, accessories and jewelry with a strong franchise in India, US, UK and the Middle East.

This partnership will add significant weight to ABFRL’s growing ethnic wear portfolio. The company expects to build a large ethnic wear business over next few years to complement its strong and diverse portfolio in western wear segment of the Indian apparel market.

“We believe that over the next few years, ethnic wear is going to be an increasingly important category as young and confident Indians rediscover their culture and heritage,” said Ashish Dikshit, Managing Director of ABFRL.

“Over the next few years, ABFRL intends to craft a portfolio that addresses the entire gamut of ethnic wear segments: value, premium and luxury.”

The proposed acquisition is subject to necessary statutory approvals.

ABFRL had a revenue of Rs. 8,788 crore in FY19-20. As on September 30, 2020, the Company has a network of 3,025 stores across approximately 26,000 multi-brand outlets with 6,500+ point of sales in department stores across India.