Aditya Birla acquires 51% stake in Sabyasachi Brand

India’s leading
fashion company, Aditya Birla Fashion and Retail Limited has announced a
strategic partnership with India’s largest designer brand Sabyasachi by signing
a definitive agreement for acquiring 51% stake in Sabyasachi brand.

Sabyasachi is India’s
largest and most influential luxury designer brand with strong Indian roots and
global appeal. The brand straddles categories such as apparel, accessories and jewelry
and has a strong franchise in India, US, UK and the Middle East. The ABFRL
platform will complement brand Sabyasachi on its journey to becoming a global
luxury house out of India.

This partnership will
add significant weight to ABFRL’s growing ethnic wear portfolio. This will accelerate
the company’s strategy to capture a large share of ethnic wear market through a
comprehensive and attractive portfolio of brands, across key consumer segments,
usage occasions and geographies. 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.

Commenting on the
partnership with ace designer Sabyasachi, Ashish
Dikshit, Managing Director, ABFRL said: “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. The Sabyasachi
brand, through its emphasis on excellence in design and craftsmanship has set
new benchmarks and captivated the imagination of the sophisticated global
Indian consumer. We are proud to partner Sabyasachi in its journey to become
the only global luxury brand from India. We see a ‘Made in India’ global brand
like Sabyasachi occupying the pinnacle of our ethnic wear portfolio. Over the
next few years, ABFRL intends to craft a portfolio that addresses the entire
gamut of ethnic wear segments: value, premium and luxury.”

Sabyasachi Mukherjee, CEO and Founder,
Sabyasachi Brand, said: “Over
the course of the last couple of years, as my brand evolved and matured, I
began searching for the right partner in order to ensure continuity and
long-term sustainable growth. I am honoured and excited to have found that partner
in Kumar Mangalam Birla and ABFRL. Aligned in our vision, and committed to
excellence, we will work together to grow a truly global luxury brand out of
India.”