From a major player in the domestic market to a globally recognised brand, S Kumars Nationwide Ltd (SKNL) wants to live up to its tagline ‘Clothiers to the nation today… to the world tomorrow’.
As part of this strategy, SKNL has announced a slew of measures to expand its footprint in the international market and it is planning to do this through acquisitions.
The company is looking at potential acquisition opportunities in Europe and North America and has decided to set up a holding and acquisition vehicle under the name SKNL International to facilitate the buys. In a note to the Bombay Stock Exchange (BSE), SKNL stated that it has been decided that the subsidiary would be established and domiciled in The Netherlands, as it is a tax efficient jurisdiction.
The note also states that it has decided to pursue potential targets that would result in strong front-end and back-end synergy for the company and where companies operate in fashion and design led activities as opposed to low-cost commodity business.
At present, SKNL has a presence in various verticals such as textiles, apparels and home linen through its brands S.Kumars, Reid & Taylor, Belmonte, Stephens Brothers and Carmichael House.