Aditya Birla Fashion and Retail Limited (ABFRL) on Friday announced a strategic agreement with Masaba Gupta. Under this, the company will buy a 51 per cent stake in the designer-initiated House of Masaba Lifestyle.
Aditya Birla Fashion and Retail Limited (ABFRL) on Friday announced a strategic agreement with Masaba Gupta.
Aditya Birla Fashion and Retail Limited (ABFRL) on Friday announced a strategic agreement with Masaba Gupta. Under this, the company will buy a 51 per cent stake in the designer-initiated House of Masaba Lifestyle. House of Masaba Lifestyle covers the accessories business of Masaba brand with apparel, non-apparel, beauty and personal care. The objective of the agreement is to develop a Gen-Next focused fashion and lifestyle business under the Masaba brand.
Ashish Dixit, Managing Director, ABFRL said that the new generation of young people are digitally active and they explore the needs of fashion and lifestyle. They actively look for brands that are colorful and digital. He further added that Masaba is a young, attractive brand with a brand new and innovative approach to every category of lifestyle.
Aditya Birla Group wants to build a big portfolio in fashion
He further added that this partnership is an important step in expanding the presence in the fast growing beauty and personal care segment. This is to create a large and diverse portfolio of home-grown brands in the fashion and lifestyle categories by tying up with India’s biggest designers.
Gupta said that as a young, home-grown brand, they are happy to tie up with Aditya Birla Fashion and Retail Ltd. This will help them build House of Masaba into a 360-degree, global lifestyle brand.
Speaking on the partnership, Gupta further said that taking inspiration from India’s ever-changing, Gen Z consumer, the brand will expand a range of products. Under this, the company’s portfolio will include cosmetics, personal care and home decor. House of Masaba has already made a strong base among the youth. In this, a strong Digital First strategy and tie-up with Aditya Birla Fashion and Retail Limited will strengthen this position, making the brand future ready. He said that with this partnership, they will get a better experience for their target audience.
Brand Masaba will be promoted through a digital direct to consumer (D2C) channel, taking advantage of its connect with more young and digitally impacted people.
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