Aditya Birla Fashion and Retail Limited (ABFRL) has announced the acquisition of a 51 percent stake in designer brand Sabyasachi. This move will strengthen the company’s position in the fast growing apparel market and will also be able to take advantage of the luxury segment. ABFRL has confirmed the acquisition of a 51 percent stake in the Sabyasachi brand. The company has said that it will invest Rs 398 crore in it, which will depend on the completion of the adjustment.
Budget 2021-22: Government will have to provide additional funds and incentives to the agricultural sector. The
Aditya Birla Group Company is expected to complete the acquisition in 30 to 45 days. ABFRL Managing Director Ashish Dixit said, “The Sabyasachi brand has set new standards through its uniqueness in design. The brand has gained recognition in the minds of global Indian customers. ”
Budget 2021: Will the women get relief from the Finance Minister’s box? The
Sabyasachi brand operates in the domestic market apart from sectors like apparel, accessories and jewelery. The brand has a franchise base in the US, UK and West Asia markets. The brand had a turnover of Rs 274 crore in FY 2019-20.