Home / Knowledge / News / Apparel/Garments / Reid & Taylor IPO likely in Sep-Oct
Reid & Taylor IPO likely in Sep-Oct
16
Aug '11
S Kumars Nationwide Limited (SKNL), the company which goes by the tag line “Clothiers To The Nation Today… The World Tomorrow”, has received the approval from market regulator to issue the initial public offering (IPO) for Reid & Taylor during September-October this year.

The company will utilize the proceeds from the around Rs. 10 billion IPO issue to promote its Reid & Taylor unit and to pay off debt.

SKNL has already given mandate to UBS AG, JP Morgan and other companies to manage the issue.

Reid & Taylor caters to the upper-middle and upper segment of customers and is one of the well-known brands of SKNL.

The company has about 45 owned and licensed brands to sell apparels that include Hickey Freeman, Austin Reed, Belmonte, Bobby Jones, Exclusively Misook, etc. The company had witnessed a robust 86.6 percent growth in its brand sales in the fiscal year 2010-11.

For the current fiscal, the firm has earmarked a capital expenditure of Rs. 4 billion to open 425 new outlets of its brands under its various formats.

During the first quarter of current fiscal, SKNL posted a consolidated net profit of Rs. 879.4 million, a rise of 40.23 percent compared to its net profit of Rs. 627.1 million recorded during the corresponding period of last fiscal.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X