Mumbai
February, 2021
ABFRL also acquired a 51% stake in luxury Indian designer brand Sabyasachi for INR 398cr. Earlier in 2019, it had acquired 51% stake in M/s Finesse International Design Private Limited (“Finesse”) under the brand name Shantanu & Nikhil, as well as acquiring ethnic wear brand Jaypore for INR 100cr.
Ashish Dikshit, MD ABFRL is quoted to have said, “The ethnic wear segment is a large and growing market with a significant opportunity to build scale. The combined expertise of Tarun Tahiliani and ABFRL will enable the new brand to make a strong impact in the market. This partnership is in line with our stated strategy to craft a portfolio of brands that address the entire gamut of ethnic wear segments: Value, premium and luxury.”