Aditya Birla Fashion and Retail Limited, a leading Indian fashion company, today established India’s leading designer Ms. Announcing a strategic partnership with Masaba Gupta.
This partnership aims to build a young and ambitious digital portfolio in the affordable luxury segment of the fashion, beauty and accessories categories.
A binding agreement to this effect was signed today, giving ABFRL a majority stake in the business. The Masaba brand extends primarily through digital consumer-to-consumer (D2C) channels, leveraging close relationships with digitally-influenced young consumers.
The brand covers all lifestyle products, from apparel, accessories and other lifestyle products. The brand is targeting annual sales of about 10 billion won. 500 kr for the next 5 years.
This partnership also marks ABFRL’s entry into India’s beauty and personal care market, providing a tremendous opportunity to build its own unique and scalable brand.
This is a fast-growing sector due to the growing number of female shoppers, rising disposable incomes and the growing influence of digital technologies.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, the company said in a regulatory filing.
Ashish Dixit, Managing Director of ABFRL, said of the partnership: Masaba is a young and vibrant brand with all 4,444 fresh and innovative lifestyle categories.” “This partnership is an important step in establishing our presence in the fast-growing cosmetics and personal care sector. This is consistent with our overall strategy of partnering with top Indian designers to build a unique and attractive portfolio of national brands across fashion and lifestyle categories.
The founder of House of Masaba, Ms. Masaba Gupta said: Inspired by the ever-evolving IndiaProud Gen Z, the brand will showcase a number of product extensions in its portfolio that include cosmetics, personal care, sports and home décor.
The Masaba House already has ‘s strong digital strategy and its relationship with ABRFL will solidify this position.
Prepare your brand for the future I also look forward to this partnership to create immersive experiences for ‘s target audience who are already using virtual environments today and are driving the evolution of the industry. towards the metaverse. ” The proposed takeover is subject to mandatory statutory approval and final contract signing.