ABFRL Incorporates Step-Down Subsidiary in UAE

Aditya Birla Fashion and Retail Limited (ABFRL) has announced the incorporation of 'Sabyasachi Retail FZ-LLC' in Ras Al Khaimah, United Arab Emirates. This new entity is a wholly owned subsidiary of Sabyasachi India Limited, which is itself a subsidiary of ABFRL, making Sabyasachi Retail FZ-LLC a step-down subsidiary. The subsidiary is established to deal in designer apparels, jewellery, and accessories. The initial share subscription will be made in cash at par value. This move is part of ABFRL's strategy to expand its international presence in the luxury retail segment.