Aditya Birla Fashion and Retail Ltd partners with House of Masaba; to buy 51 pc in the designer brand
Mumbai/IBNS: Aditya Birla Fashion and Retail Ltd (ABFRL) Friday said it has sealed a strategic partnership with Masaba Gupta to buy 51 percent of House of Masaba Lifestyle which houses apparel, non-apparel, beauty & personal care and accessories business under the Masaba brand.
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.”
The tie-up is aimed at building a gen-next-focused fashion and lifestyle business under the Masaba brand.
He added, “This partnership is also an important step in building presence in the fast-growing beauty and personal care segment. This fits in well with our overall strategy to partner India’s top most designers to build a portfolio of distinctive and aspirational home-grown brands across fashion and lifestyle categories."
Gupta said, "As a young, homegrown brand I am delighted to partner with ABRFL to further solidify the House of Masaba into a 360-degree, global lifestyle brand of the future."
Speaking about the prospects of the partnership, Gupta added, “Inspired by the ever-evolving, India-proud Gen Z consumer, the brand will introduce multiple product extensions bringing cosmetics, personal care, athleisure and home decor to its portfolio. The House of Masaba already has established a strong foothold among the youth with a robust digital-first strategy and the tie-up with ABRFL will strengthen this position, making the brand future-ready. With this partnership, I look forward to creating immersive and collaborative experiences for our target audiences who engage highly in virtual mediums today and are driving the industry's evolution to the metaverse."
Brand “Masaba” will be scaled predominantly through the digital direct-to-consumer (D2C) channel, leveraging its strong connect with younger and digitally influenced consumers.
The brand is targeting to achieve annual revenues of around Rs 500 crore in the next five years.
The partnership will also mark ABFRL’s entry into the beauty & personal care market in India, which offers tremendous opportunity to build distinctive, scalable home-grown brands.
This is a rapidly growing segment driven by an increase in women shoppers, rise in disposable incomes and acceleration in digital influence.