Aditya Birla Fashion acquires 51% stake in designer clothing brand Masaba
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Aditya Birla Fashion and Retail Ltd (ABFRL) said it will acquire a 51% majority shareholding in popular and contemporary brand 'Masaba' promoted by the leading designer Masaba Gupta for a cash consideration of Rs 90 crore. The Aditya Birla Group has entered into a 'binding term sheet’ agreement to acquire a 51 per cent stake in 'House of Masaba Lifestyle Pvt Ltd', a move which will strengthen its play into fashion for young.