Global private equity (PE) firm Advent
International, has bought out women’s innerwear brand Enamor from Indian
Alternatives, Faering Capital and its promoters for about INR 320 Crore.
Women’s lingerie in India is a high-growth
market, with only a few strong brands in operation. As lingerie sales increase
alongside disposable income, Enamor, one of the market’s leading players, is
strongly positioned to benefit from these trends.
Started in collaboration with French lingerie
brand Barbara in 2001, Enamor has grown to 20 exclusive brand outlets and over
4,500 points of sale across India, mainly in larger cities. The brand that
makes lingerie, sportswear and athleisure wear, also sells its products online.
The deal marks Advent’s eighth investment in
India and fourth in the consumer goods sector since 2015. In 2017, the firm
acquired Dixcy Textiles Pvt. Ltd, which is an exclusive manufacturer and
marketer of several leading men’s innerwear brands, including Dixcy Scott,
Dixcy Scott UNO, Dixcy Josh and Dixcy & Slimz. Within the consumer goods
space, the firm also agreed to acquire a majority stake in packaged snacks
maker, DFM Foods Ltd., in September. In 2015, it invested in consumer electrical
goods maker, Crompton Greaves Consumer Electricals.
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