M&A M&A
Recode Studios to acquire 51% stake in beauty brand Aflairza
Source Indian Retailer (opens in a new tab)BSE Announcement (opens in a new tab)
Publicly listed Ludhiana-based beauty and personal care brand Recode Studios is to acquire a 51% stake in Mumbai-based luxury beauty and cosmetics brand Aflairza Professionals . Recode will initially acquire a 33% stake for an aggregate consideration of INR 8.32 crores, with equal allocation between promoter share purchase and fresh capital into the company. In Phase II, Recode will then increase its shareholding to 51%.Founded in 2021 by Sagar Urvish Gandhi and Deep Parekh, Aflairza Professionals provides professional grade cosmetics developed using Korean formulations.The primary funds will be directed toward enhancing distribution networks and increasing the presence of the brand across both online and offline retail channels.