ABFRL buys 51% in Masaba label for ₹90 cr

Aditya Birla Trend and Retail Ltd (ABFRL) is about to select up a 51% stake in Home of Masaba Way of life Pvt. Ltd for 90 crore, the corporate knowledgeable the inventory exchanges on Friday.

Model Masaba, owned by designer Masaba Gupta, sells attire, non-apparel, magnificence and private care merchandise and equipment.

The funding will strengthen Aditya Birla Trend’s play into trend for the younger and digitally native customers, it added.

The businesses will create a younger, aspirational, and digital-led portfolio throughout reasonably priced luxurious in trend, magnificence, and equipment, it stated.

With this funding, model Masaba seeks to clock annual income of 500 crore within the subsequent 5 years.

New-age consumers are looking for manufacturers which are vibrant, vivid, and digital, and the affiliation marks an “vital step in constructing presence within the fast-growing magnificence and private care section,”Ashish Dikshit, managing director, ABFRL, stated.

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