January 31: Aditya Birla Fashion and Retail Limited (ABFRL) has recently bought the 51 per cent stakes of one of the most influential labels in India Sabyasachi entering into a strategic partnership with the company. Since 1999, the Sabyasachi label has been a leading retailer and couturier in the Indian fashion industry. ABFRL earlier on Wednesday announced the development also claiming that their platform will bestow a stage to the brand Sabyasachi in order to become a global luxury house out of India.
Meanwhile, CEO and Founder of Sabyasachi Brand, Sabyasachi Mukherjee said, “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 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.”
Commenting on the partnership with the ace designer, Ashish Dikshit, Managing Director, ABFRL adds: “We believe that over the next few years, ethnic wear is going to be an increasingly important category as young and confident Indians rediscover 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.”
Further, he also said, “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.”