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S Kumars awaits approval for Brandhouse demerger plan

24
May '07
S Kumars Nationwide (SKNL), flagship of the S Kumars Group, is still awaiting court approval for its demerger plans of entity Brandhouse Retails. Demerger was scheduled to be implemented from January 2007.

Under this plan with every five shares of Kumars Group, shareholders will be given one Brandhouse share, free.

S Kumars Group aims to list its demerged retail entity Brandhouse next within three months.

Brandhouse Retails sets up and manages exclusive brand outlets for SKNL brands, including Belmonte, Carmichael House and Reid & Taylor.

Nitin Kasliwal, Vice Chairman and Managing Director, said at a press conference, “We will be rolling out 1,200 stores over the next three years. The stores will sell our group's brands, foreign labels that we tie up with and also domestic brands that do not belong to S Kumars.”


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