Textile and apparels firm Mandhana Industries Ltd, which partners actor Salman Khan’s Being Human Foundation to manufacture and market the Being Human clothing brand, has plans for deeper penetration into the domestic and international markets using the franchise route. It already has a licensing agreement with the foundation for a global presence.
The High Court of judicature at Bombay has approved the demerger of Mandhana Industries’ retail division, Being Human. The demerger will see the creation of Mandhana Retail Ventures, which will give the company space to add more brands and grow its retail arm. The demerger is expected to enhance strategic flexibility and build a vibrant industrial platform. It will also enable a dedicated management focus.
Being Human is opening 2,000 outlets both in India as well as abroad (the company currently rakes in almost 25 per cent revenue from international sales). And Salman Khan being the brand’s face helps pull in great numbers in terms of online sales.
Mandhana is also currently adding more products to the Being Human line – a boys wear section as well as a sports wear line tentatively titled Being Active. In FY 2015-16, the company is expected to rake in Rs 300 crore in profits. Mandhana and Being Human aim to grow by 50 per cent by the year 2020.
Mandhana Industries has rallied 7 per cent to Rs 312 on the BSE after the company said that the High Court of judicature at Bombay approved the scheme of arrangement for demerger of the retail undertaking of the company into Mandhana Retail Ventures.