One of the most influential labels, if not the reigning brand in Indian fashion, Sabyasachi, enters into a strategic partnership with Aditya Birla Fashion and Retail Limited (ABFRL) by which Aditya Birla Fashion has acquired 51 percent stake in the brand for an undisclosed amount.

The namesake label of designer Sabyasachi Mukherjee has been a leading retailer and couturier in Indian fashion since 1999 with a strong presence across the country and internationally. On Wednesday, 27th January, Aditya Birla Fashion and Retail announced that its platform will complement brand Sabyasachi on its journey to becoming a global luxury house out of India. This aim is to build a large ethnic wear business over next few years to complement its strong and diverse portfolio in western wear segment of the Indian apparel market.

 ABFRL is part of a leading Indian conglomerate, 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 honored and excited to have found that partner in Mr. 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."

Shares of Aditya Birla Fashion and Retail Limited on Thursday morning session being traded at Rs157.95 per share, down 2.56 percent from the previous closing on the NSE.

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