By Malvika Gurung
Investing.com — The country’s leading fashion retail company Aditya Birla Fashion and Retail Ltd (NS:) announced that it will acquire a 51% majority stake in the House of Masaba Lifestyle for a cash consideration of Rs 90 crore, to foray into the rapidly growing beauty and personal care segment.
House of Masaba is a luxury brand founded by fashion designer Masaba Gupta, expanding over a broad portfolio of clothing, beauty & personal care, jewellery and accessories, among other segments.
Indian retail majors like ABFRL and Reliance (NS:) Retail have been increasing their presence in the fashion industry, going on a spree of acquisitions. In January 2021, ABFRL purchased a 51% stake in the luxury wedding brand Sabyasachi, followed by Mukesh Ambani-owned Reliance Retail acquiring a 52% holding in the label Ritu Kumar, in October 2021.
The acquisition of a 51% stake in House of Masaba will bolster