MUMBAI: Indo Count, one of the largest bed linen manufacturers in the country, has acquired Wamsutta, a home fashion brand from NYSE-listed Beyond, the parent company of Bed Bath & Beyond, Zulily, Overstock and a gallery of other brands, for $10.3 million.
Wamsutta, established in 1846, has a product line encompassing bedding, bath linens, window treatments and decorative accessories.The cash deal, which includes Indo Count also assuming certain liabilities, is the Indian company’s second acquisition after GHCL’s home textile business, which was bought for Rs 593 crore in FY23.
Wamsutta will elevate Indo Count’s position in the premium market segment, in the US and outside of it, the company said in a release. Currently, US accounts for 75% of the Indian company’s Rs 3,042 crore revenue.
“Indo Count will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand,” the release said.
Mohit Jain, Executive Vice Chairman, Indo Count said that Wamsutta, with its 178-year brand heritage, resonates strongly in the marketplace. “We will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand.”
In Friday’s choppy market, the stock price of Indo Count on BSE closed 0.5% higher at Rs 374.
Wamsutta, established in 1846, has a product line encompassing bedding, bath linens, window treatments and decorative accessories.The cash deal, which includes Indo Count also assuming certain liabilities, is the Indian company’s second acquisition after GHCL’s home textile business, which was bought for Rs 593 crore in FY23.
Wamsutta will elevate Indo Count’s position in the premium market segment, in the US and outside of it, the company said in a release. Currently, US accounts for 75% of the Indian company’s Rs 3,042 crore revenue.
“Indo Count will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand,” the release said.
Mohit Jain, Executive Vice Chairman, Indo Count said that Wamsutta, with its 178-year brand heritage, resonates strongly in the marketplace. “We will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand.”
In Friday’s choppy market, the stock price of Indo Count on BSE closed 0.5% higher at Rs 374.
