Sri Lanka’s MAS Brands, which sells the Amante label of innerwear, is mulling over acquisition options in India and planning to open 100 standalone stores in the next five years. The company, which operates 10 exclusive stores in India and also sells the label in Sri Lanka, Maldives and Pakistan, will launch British lingerie brand Ultimo in India in October.
The label aims at becoming the premium intimate wear brand in South Asia, a news agency report quoted MAS Brands India CEO Vivek Mehta as saying. The brand, a subsidiary of MAS Holdings Pvt. Ltd., launched Amante in 2007 and now has plans to launch it in Bangladesh as well.
The company eyes a turnover of Rs 150 crore this fiscal and plans to launch brands for different customer needs. It is open to raising money from investors in future to support its expansion plans, Mehta added. (DS)
Fibre2Fashion News Desk – India