NEW DELHI: Aditya Birla Fashion and Retail Limited on Friday said it will acquire a 51% stake in House of Masaba Lifestyle for about Rs 90 crore to build a ‘gen-next focused’ fashion and lifestyle business. This acquisition also marks ABFRL’s entry into the beauty & personal care market.
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, the company said in a regulatory filing.
Commenting on the partnership, Ashish Dikshit, Managing Director, ABFRL, said,
“As a new generation of young and digitally native consumers explore their needs within fashion and lifestyle, they actively seek brands that are colourful, vivid and digital. Masaba is a young, effervescent brand with a refreshing and innovative take on every lifestyle category.”