RETAIL UPDATE : * Mandhana Retail Ventures, the licensee of Salman Khans Being Human brand, has begun talks with private equity funds to raise Rs 120-150 crore by selling up to 30% stake in the company, two people with direct knowledge of the plan said. The extra money will help the company expand its distribution network in the overseas market as well as diversify its products portfolio. Khans Being Human Foundation has given the global licensing rights to Mandhana Retail Ventures for which it earns a royalty between 7% and 10% on sales of Being Human merchandise, which is used for education and healthcare initiatives. At the end of March 31, 2013, the revenues from Being Human brand accounted for around Rs 100 crore. From the orders and sales done so far, they should close at Rs 130 crore by March 2014, which is just the second year of operation and the sales are equally divided from our overseas and domestic stores. The company has a tie-up with the global business group Landmark, through which the Being Human brand is being sold in countries like France, Saudi Arabia, Egypt, Belgium, Oman, Jordon, Qatar, UAE, Pakistan, Bahrain, Libya Kuwait and Muscat. There are around 18 Being Human flagship stores and 100 shop-in-shops. The company expects to grow the footprint to around 30 stores and around 125 shop-in shops by year end. Mandhana Retail Ventures is an arm of the BSE-listed Mandhana Industries, which clocked revenues of Rs 800 crore. The company has expanded to 12 manufacturing facilities producing over 36 million kg of yarn and 3.5 million pieces of garments every year.
Posted on: Thu, 31 Oct 2013 11:43:35 +0000
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