Indian luxury designer Sabyasachi has sold 51% stake of its Couture division to Aditya Birla Fashion and Retail Ltd.
The deal is subject to statutory approvals and signing of definitive agreements, the company said in an exchange filing.
The luxury brand by Kolkata-based Sabyasachi also sells accessories and jewellery apart from ethnic wear. The brand clocked in a revenue of Rs. 253 cr in the financial year 2019 and Rs. 274 cr in 2020, according to a Bloomberg report.