Liquidity Events
Aditya Birla Fashion acquires 51% stake in Masaba Lifestyle for Rs.90-Cr
Publicly listed fashion company Aditya Birla Fashion and Retail Ltd has acquired a 51% stake in fellow Mumbai-based House of Masaba Lifestyle Pvt Ltd for INR 90 crore in cash. The designer Masaba Gupta promoted target entity houses apparel, non-apparel, beauty & personal care and accessories business under the brand 'Masaba'. The partnership aims to create a young, aspirational and digital-led portfolio play, across the affordable luxury segment in the fashion, beauty and accessory categories. For FY21, Masaba Lifestyle had posted revenue of INR 14 crore.
From the Venture Intelligence Angel Investments Database: In Jul-19, House of Masaba raised angel funding from Apoorva Patni, Apurva Salarpuria, Binny Bansal, and others.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
