Hot Pursuit     19-Apr-24
Indo Count acquires 'Wamsutta’ brand from Beyond Inc
Indo Count Industries said that its American subsidiary has acquired the global brand 'Wamsutta’ (including trademarks rights associated with the brand) from Beyond Inc.

Beyond, Inc. is an ecommerce expert. It owns Overstock.com, Bed Bath & Beyond, Baby & Beyond, Zulily, Kids & Beyond, Backyard.com, College Living, and other related brands and associated intellectual property. Its suite of online shopping brands features millions of products for various life stages that millions of customers visit each month.

Wamsutta – an industry-leading home fashions brand – has delighted generations of consumers with luxurious bed, bath and other home fashion products. The brand was established in 1846. It has long history in the textile industry and is known as a ‘national brand’ in North America. The brand’s product line encompass various categories including bedding, bath linens, window treatments and decorative accessories.

This acquisition, which closed on 18 April 2024, strengthens Indo Count’s brand portfolio, and elevates its position in the premium market segment.

Mohit Jain, Executive Vice Chairman of Indo Count, expressed his enthusiasm about the acquisition, stating, "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.”

Indo Count Industries is the largest global home textile bed linen manufacturer. The company’s current annual capacity is 153 million metres.

The company's consolidated net profit jumped 53.96% to Rs 58.06 crore on a 8.54% increase in sales to Rs 713.42 crore in Q3 FY24 over Q3 FY23.

The scrip lost 0.62% to currently trade at Rs 370 on the BSE.

Previous News
  Indo Count Industries consolidated net profit declines 23.54% in the December 2021 quarter
 ( Results - Announcements 07-Feb-22   15:52 )
  Indo Count Industries consolidated net profit rises 628.05% in the March 2021 quarter
 ( Results - Announcements 17-May-21   15:40 )
  Indo Count Industries Ltd leads gainers in 'A' group
 ( Hot Pursuit - 31-May-23   12:00 )
  Board of Indo Count Industries recommends Final Dividend
 ( Corporate News - 17-May-21   16:30 )
  Indo Count Industries consolidated net profit rises 651.24% in the September 2020 quarter
 ( Results - Announcements 21-Oct-20   17:20 )
  Indo Count Industries consolidated net profit rises 115.26% in the December 2019 quarter
 ( Results - Announcements 11-Feb-20   16:17 )
  Indo Count Industries announces cessation of subsidiary in Australia
 ( Corporate News - 11-Jan-21   20:19 )
  Indo Count Industries update on scheme of amalgamation
 ( Corporate News - 26-Mar-21   16:29 )
  Indo Count recognized as 'Top Performer' suppliers
 ( Corporate News - 22-Jul-21   09:42 )
  Indo Count Industries standalone net profit rises 149.55% in the December 2019 quarter
 ( Results - Announcements 11-Feb-20   15:19 )
  Indo Count Industries receives revision in credit rating
 ( Corporate News - 10-Jan-22   18:54 )
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