ABFRL completes acquisition of House of Masaba LifestyleABFRL - 232 Change: -0.70 (-0.30 %)
News: ABFRL has signed definitive agreements and completed the acquisition of 52.4% stake in House of Masaba Lifestyle Pvt Ltd thereby making it a subsidiary of the company.
Views: Through investment in brand 'Masaba', ABFRL will strengthen its play into fashion for young and digitally native consumers along with marking a foray into the branded beauty and personal care segment. ABFRL is likely to scale up the brand Masaba predominantly through the digital direct-to-consumer channel in order to leverage its connection with the younger and digitally-influenced consumers. The company is targeting a annual revenue of Rs 500 crore through this brand in the next five years.