Aditya Birla Fashion Buys 51% Stake In House Of Masaba - Viral Bake

Aditya Birla Fashion Buys 51% Stake In House Of Masaba

Aditya Birla Fashion and Retail Limited stocks are at all time high and currently it is priced at Rs 315.75 per share on BSE. Very recently the company acquired 51% stake in the company House of Masaba for Rs 90 crore.

The press statement of the company said, “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.”

It further said, “This partnership will also mark ABFRL’s entry into the beauty & personal care market in India, which offers tremendous opportunity to build distinctive, scalable home-grown brands.”

House of Masaba is mullingto make its turnover to Rs 30 crore in FY22 as compared to Rs 16 crore in FY19. The brand is also targeting to take the annual turnover of the company to around Rs 500 crore in 5 years.

House of Masaba was started by Masaba Gupta, daughter of National Award winning actress Neena Gupta.

Masaba started the brand when she was 19 year old with the help of Wendell Rodricks. Her first collection was Kattran.

Also read:

BharatPe Co-Founder Takes Voluntary Leave On Behaviour Accounts

In 2019, Netflix announced a new TV series starring Gupta and her mother Neena Gupta, Masaba Masaba, a semi fictional series in which the duo show glimpses of their lives with fashion and film.

Masaba Gupta shared about the news on her Instagram handle and announced the partnership with Aditya Birla Fashion and Retail Limited.

House of Masaba has done great collaborations in the past with brands like Puma India, Rhea, Game of Thrones, Tribe by Amrapali, Raga by Titan, Lakme, Nykaa, Ekaya and United Nations Environment Programme.

Masaba Gupta is a popular Instagram influencer and she has an iconic taste in fashion. Aditya Birla Fashion and Retail Limited has done a lot in fashion and collaborating with House of Masaba will provide new horizons. The company also acquired 51% stakes in famous luxury clothing brand Sabyasachi by Sabyasachi Mukherji.

Siddhant Baranwal

Siddhant is a Content Creator. He has been doing this for past three years and have managed to gain good attention of audiences for his work. He is an active reader and has huge respect for art and theatre.

Related Articles

Back to top button