MUMBAI: Indo Count, one of many largest bed linen producers within the nation, has acquired Wamsutta, a dwelling trend model from NYSE-listed Beyond, the father or mother firm of Bed Bath & Beyond, Zulily, Overstock and a gallery of different manufacturers, for $10.3 million.
Wamsutta, established in 1846, has a product line encompassing bedding, bathtub linens, window therapies and ornamental equipment.The money deal, which incorporates Indo Count additionally assuming sure liabilities, is the Indian firm’s second acquisition after GHCL’s dwelling textile enterprise, which was purchased for Rs 593 crore in FY23.
Wamsutta will elevate Indo Count’s place within the premium market section, within the US and out of doors of it, the corporate stated in a launch. Currently, US accounts for 75% of the Indian firm’s Rs 3,042 crore income.
“Indo Count will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand,” the discharge stated.
Mohit Jain, Executive Vice Chairman, Indo Count stated that Wamsutta, with its 178-year model heritage, resonates strongly within the market. “We will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand.”
In Friday’s uneven market, the inventory value of Indo Count on BSE closed 0.5% larger at Rs 374.
Wamsutta, established in 1846, has a product line encompassing bedding, bathtub linens, window therapies and ornamental equipment.The money deal, which incorporates Indo Count additionally assuming sure liabilities, is the Indian firm’s second acquisition after GHCL’s dwelling textile enterprise, which was purchased for Rs 593 crore in FY23.
Wamsutta will elevate Indo Count’s place within the premium market section, within the US and out of doors of it, the corporate stated in a launch. Currently, US accounts for 75% of the Indian firm’s Rs 3,042 crore income.
“Indo Count will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand,” the discharge stated.
Mohit Jain, Executive Vice Chairman, Indo Count stated that Wamsutta, with its 178-year model heritage, resonates strongly within the market. “We will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand.”
In Friday’s uneven market, the inventory value of Indo Count on BSE closed 0.5% larger at Rs 374.
