Aditya Birla bought 51% stake in fashion designer brand Sabyasachi for ₹ 398 crore

(Source: Google)   Aditya Birla bought 51% stake in fashion designer brand Sabyasachi for ₹ 398 crore

Aditya Birla Fashion & Retail (ABFRL) has entered into a definitive agreement to acquire a 51% stake in designer brand Sabyasachi, the company said in a regulatory filing. The cost of acquisition of the stake in it would be ₹ 398 crores. "In the last two years of SEBI ... I started searching for the right partner to ensure ... long-term sustainable development," said founder Sabyasachi Mukherjee.