LAST UPDATED: Jan. 28, 2021, 12:20 p.m.
NEW DELHI (DIVYA SAINI): One of the most leading labels and brand Sabyasachi, enters sells its 51% stakes to Aditya Birla Fashion and Retail Limited (ABFRL). The designer Sabyasachi Mukherjee has been a leading retailer in Indian fashion since 1999. The label itself holds the royalty and a strong presence internationally. Sabyasachi Mukherjee is called as India’s first ‘Luxury Fashion House’.
Sabyasachi Mukherjee said that “Over the course of the last couple of years, as my brand evolved and matured, I began searching for the right partner in order to ensure continuity and long-term sustainable growth. I am honoured and excited to have found that partner in Mr. Kumar Mangalam Birla and ABFRL. Aligned in our vision, and committed to excellence, we will work together to grow a truly global luxury brand out of India.”
On Wednesday, 27th January, ABFRL made an announcement, about purchasing the stakes of Sabyasachi and how it will play a role in becoming a global luxury house out of India. Their aim is to build a large ethnic wear business at international market over next few years to complement its strong portfolio in western wear of the Indian market. ABFRL is a leading Indian conglomerate, who plays a fashion powerhouse with leading fashion brands and retail formats.
Sabysachi Mukhrjee has always been so popular with his royal ethnic wear designs, he is the one who has created a creative side of fashion, focused on the business of fashion. Sabyasachi is the one who influenced and shaped modern fashion with traditional techniques in every product.
Ashish Dikshit, Managing Director, ABFRL says that “We believe that over the next few years, ethnic wear is going to be an increasingly important category as young and confident Indrediscover their culture and heritage. The Sabyasachi brand, through its emphasis on excellence in design and craftsmanship has set new benchmarks and captivated the imagination of the sophisticated global Indian consumer. We are proud to partner Sabyasachi in its journey to become the only global luxury brand from India. We see a ‘Made in India’ global brand like Sabyasachi occupying the pinnacle of our ethnic wear portfolio. Over the next few years, ABFRL intends to craft a portfolio that addresses the entire gamut of ethnic wear segments: value, premium and luxury.”
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