Sabyasachi is India’s largest and most influential luxury designer brand and engaged in categories such as apparel, accessories and jewellery and has a strong franchise in India, US, UK and the Middle East. The brand generated revenue worth Rs 274 crore as on FY20.
ABFRL said this partnership will add significant weight to ABFRL’s growing ethnic wear portfolio. This will accelerate the company’s strategy to capture a large share of ethnic wear market through a comprehensive & attractive portfolio of brands, across key consumer segments, usage occasions and geographies. The company expects 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.
“Acquisition in Sabyasachi brand by ABFRL is its third acquisition in ethnic wear category since July 2019 (ABFRL had already forayed into branded ethnic wear through investments in Jaypore, Shantanu & Nikhil ethnic wear brands). Through Sabyasachi brand, ABFRL will be able to tap luxury and bridge luxury segments and address entire gamut of ethnic wear segments: value, premium, luxury,” ICICI Securities said in a note.
ABFRL has recently raised Rs 2,500 crore (right issue: Rs 1,000 crore, preferential allotment: Rs 1,500 crore), which would assist in funding latest acquisition. However, the same may defer debt reduction plans for ABFRL, the brokerage firm said.
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