Sabyasachi sells 51% stake to Aditya Birla Mode, Lifestyle News
One of the most influential labels, if not the reigning Indian fashion brand, Sabyasachi, enters into a strategic partnership with Aditya Birla Fashion and Retail Limited (ABFRL) through which Aditya Birla Fashion acquired 51% of the brand’s equity for a undisclosed amount. amount.
Designer Sabyasachi Mukherjee’s eponymous brand has been a leading Indian fashion retailer and designer since 1999 with a strong presence across the country and internationally. From humble beginnings in Calcutta, designer Sabyasachi Mukherjee has grown his brand more and more, being the proud owner of what can only be called the first âLuxury Fashion Houseâ in the truest sense of the word. .
On Wednesday January 27, ABFRL announced that its platform will complement the Sabyasachi brand on its journey to become a global luxury house outside of India. This goal is to build a large ethnic clothing company over the next few years to complement its strong and diverse portfolio in the western clothing segment of the Indian clothing market. ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group, with a turnover of Rs. 8,788 Cr in fiscal year 2019-2020, it is the first pure fashion powerhouse billion dollars in India with an elegant bouquet of top fashion brands and retail formats.
Sabyasachi CEO and Brand Founder Mr. Sabyasachi Mukherjee said, âOver the past two years as my brand has evolved and matured, I have started looking for the right partner to ensure continuity and long-term sustainable growth. . I am honored and delighted to have found this partner in Mr. Kumar Mangalam Birla and ABFRL. Aligned with our vision and committed to excellence, we will work together to develop a truly global luxury brand from India. “
Sabyasachi Mukherjee has always been at the forefront and from the very beginning strived to create a brand that, in addition to the creative side of fashion, focused on the business of fashion. Sabyasachi has become one of the most influential cultural voices in the country, shaping the modern fashion and lifestyle while celebrating traditional craftsmanship and techniques in every product.
The brand straddles categories such as clothing, accessories and jewelry and has a strong franchise in India, the United States, the United Kingdom and the Middle East. Today, with a solid base in the national retail landscape, several major global collaborations and the upcoming opening of international flagships, Sabyasachi is resolutely pursuing its path to become the leading voice of global luxury outside of India. .
Commenting on the partnership with the ace designer, Ashish Dikshit, Managing Director of ABFRL, adds: âWe believe that over the next few years, ethnic clothing will become an increasingly important category as confident young Indians rediscover their culture and heritage. The Sabyasachi brand, with an emphasis on excellence in design and craftsmanship, has set new benchmarks and captured the imagination of the sophisticated global Indian consumer. We are proud to partner with Sabyasachi on their journey to become India’s only global luxury brand. We see a global ‘Made in India’ brand like Sabyasachi occupying the top of our ethnic clothing portfolio. Over the next few years, ABFRL intends to create a portfolio that covers the full range of ethnic clothing segments: value, high end and luxury. “
The proposed acquisition is subject to the necessary statutory approvals and the signing of definitive agreements. One can only wait and see this unique story of Indian excellence unfold in the months to come.