Sabyasachi Sells 51% Stake of Brand to Aditya Birla Fashion for ₹398 Crore

Shocked after reading the title, right?

It was the same reaction of each and every one of us when we heard that Sabyasachi Mukherjee, who is a world-famous Indian fashion designer is selling its stakes to Aditya Birla Fashion for ₹398 crores.

Image Source: The Economic Times

Sabyasachi Mukherjee is a Kolkata-based fashion, jewelry designer, and couturier, famous for its ethnic and fashion brand named, “Sabyasachi”. He has worked with many big brands such as Christian Louboutin and recently with Bergdorf Goodman New York. He also designed costumes for many famous Indian movies such as Black, Guzaarish, English Vinglish, Raavan, Paa, No One Killed Jessica, etc. His design catches the eyes of many designers across the world and he got to work at very prestigious fashion shows such as New York, Milan, and London. He also showcased his talent at Paris and Lakme Fashion Week.

Sabyasachi has its stores in Kolkata, New Delhi, Mumbai, and Hyderabad. His pieces also have an online presence in foreign retail stores such as California, Atlantia, Dubai and London.

He also designed the wedding pieces for famous Bollywood couples like Anushka and Virat, Deepika and Ranveer, and also for Nick and Priyanka. He takes his designs and works very seriously and also goes to extreme lengths to make the perfect dress for his clients.

Image Source: DNA India

His dedication and efforts took him to the place where he is right now and that was the reason why it was a shock knowing that he is selling 51% of Sabyasachi’s stakes to Aditya Birla Fashion retail.

When asked why he did that then he said that there is no such reason for taking this step. He always wanted to expand his business outside India and was looking for a strong brand to partner with. This move is purely strategic and he wants to take his brand more globally and what can be a better way of doing this.

The one thing that is still unclear is why he agreed to give 51% of the stakes to Aditya Birla Retail and Fashion Brand. We know that Aditya Birla offered a whooping ₹398 crores for the stake but it's like transferring the entire ownership to an entire other company.

Image Source: Next Big Brand

Sabyasachi Mukherjee wants to explore the “Made In India” side of his brand more and wants to expand it globally. Over the next few years, ABFRL intends to craft a portfolio that addresses the entire gamut of ethnic wear segments: value, premium, and luxury."

The proposed acquisition is subject to necessary statutory approvals and the signing of definitive agreements. One can only wait and watch this unique story of Indian excellence unfold in the months to come. For now, Aditya Birla and Sabyasachi are in a partnership but Sabyasachi is the only one designing and curating new ideas for the brand. Let's see where the partnership goes in the near future.

Written By - Anamika Malik

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