Stock Report

Indo Count acquires US Premium National Brand WAMSUTTA

Posted On : 2024-04-21 16:10:35( TIMEZONE : IST )

Indo Count acquires US Premium National Brand WAMSUTTA

Indo Count, the largest global bed linen manufacturer and exporter from India, announces its strategic acquisition of the international home fashions brand WAMSUTTA from Beyond, Inc. (NYSE: BYON). Wamsutta - an industry-leading home fashions brand - has delighted generations of consumers with luxurious bed, bath and other home fashion products. This acquisition, which closed on April 18, 2024, strengthens Indo Count's brand portfolio, and elevates its position in the premium market segment.

Renowned for its exceptional quality and a brand legacy dating back to 1846, WAMSUTTA is poised for substantial growth under Indo Count's leadership.

Mohit Jain, Executive Vice Chairman of Indo Count, expressed his enthusiasm about the acquisition, stating, "Wamsutta - with its 178-year brand heritage - resonates strongly in the marketplace. 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."

"Our strategic vision is to leverage our operational capabilities to enhance the brand value proposition and fulfill its potential globally. WAMSUTTA's brand equity, combined with Indo Count's global reach will catapult the brand to new heights and represents a significant milestone towards our expansion strategy." Mr. Jain added.

Shares of Indo Count Industries Limited was last trading in BSE at Rs. 374.25 as compared to the previous close of Rs. 372.30. The total number of shares traded during the day was 20272 in over 1021 trades.

The stock hit an intraday high of Rs. 376.75 and intraday low of 366.55. The net turnover during the day was Rs. 7531812.00.

Source : Equity Bulls


IndoCountIndustries INE483B01026 Acquisition US PremiumBrand WAMSUTTA