- Meenakshi Kumar |
Intimate-wear brand MAS Brands, which sells products under Amante label, is scouting for acquisition opportunities in the Indian market and looking to have 100 standalone stores in the next 3 to 5 years to cater to different customer needs.
The brands aspiration is to be the leading intimate wear brand in whole of South Asia. It is looking at a portfolio of 3-4 brands to play meaningfully in India. Currently, the company is looking for acquisition options. The brands can be in the premium category or one step below that, says MAS Brands India CEO Vivek Mehta.
In this regard, the company will launch UK-based high- street lingerie brand Ultimo in India next month. The company, which is looking to clock in a turnover of Rs 150 crore in the current financial year, plans to launch brands for different customer needs such as a mass market brand targeting younger customers. At present, it operates 10 exclusive brand stores in India. MAS Brands India, which launched Amante brand in 2007, is looking at operating 100 standalone stores in 15-20 cities in the next 3-5 years.
MAS Brands is a subsidiary of Sri Lanka's MAS Holdings. As part of its expansion plans, the company is also looking at launching Amante brand in other neighbouring markets such as Bangladesh. At present, it sells Amante brand in Sri Lanka, Maldives and Pakistan.