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.
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| 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.
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| 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.
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| 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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