Sabyasachi sell 51% stake to Aditya Birla fashion for Rs 398 crore

Aditya Birla fashion and retail to acquire 51% stake of Sabyasachi

Sabyasachi a very well renowned couture, famous for his amazing and authentic work in apparel, jewellery, accessories which is very popular and in demand among brides is his staple red lehenga. Established in 1990, having franchise in various parts of the world such as India, UK, USA is now selling 51% stake of his company to Aditya Birla fashion and retail (ABFRL) for approximately Rs 398 crore.

ABFRL has a network of more than 3,000 clothing and accessories stores from Louis Philippe, Van Heusen, Allen Solly and Peter England. Earlier, Aditya Birla Fashion bought Finesse International Design, which sells a range of clothing for Shantanu & Nikhil, for Rs 60 crore. It also acquired artisanal etailer Jaypore.com for Rs 110 million to enter the highly informal market of traditional and ethnic products.

Aditya Birla Group said it expects to build a large ethnic clothing business in the next few years to complement its strong and diverse portfolio in the western clothing sector of the Indian clothing market. The company said in a statement that while Sabyasachi is the world's largest luxury designer product with strong Indian roots and global appeal, the ABFRL platform will complete the product on its journey to become a world-class luxury home from India. He further added “This partnership will add significant weight to ABFRL's growing portfolio of ethnic dress. This will accelerate the company's strategy of capturing a large share of the racial apparel market through a comprehensive and attractive portfolio of products, at key consumer categories, events and geographies.” “The company hopes to build a large ethnic clothing business in the next few years to complement its strong and diverse portfolio in the western garment segment of the Indian clothing market,’’ ABFRL spokesperson said.