KPR Mills forays into innerwear segment with brand Faso
By Shubhangi Bidwe
21 May 2019
Coimbatore-based integrated textile manufacturer, KPR Millv has entered innerwear segment with a new brand Faso (Fashion Adapted Sustainable and Organic). The brand will be initially available in Coimbatore, Chennai and Madurai and then spread out into more cities of South India by August. Faso will have 33 products pan India, including sportswear, by 2020. The products are segmented in three different premium ranges--comfort, style and supreme. Initially they will launch 15 products to be sold through MBOS. All are organic cotton, menswear products in the premium segment. The group has appointed five distributors and 250 dealers for the three cities. As per chairman of the group K P Ramasamy the products will be made in-house and they are investing Rs 50 crore for manufacturing. The products are designed by a freelancing Italian designer and the brand will soon have a brand ambassador and a full-time designer.
KPR Mills is a vertically integrated textile manufacturer. Net sales for the fourth quarter were Rs 958.30 crores as compared to Rs 780.95 crores during the preceding quarter. Net profit was Rs 85.94 crores as against Rs 84.11 crores for the previous quarter. EPS for the quarter was Rs 11.84 as compared to Rs 11.59 for the earlier quarter. Net sales were Rs 958.30 crores during the period ended March 31, 2019, as compared to Rs 822.84 crores during the period ended March 31, 2018. Net profit was Rs 85.94 crores for the period ended March 31, 2019, as against Rs 73.10 crores for the period ended March 31, 2018. EPS was Rs 11.84 for the period ended March 31, 2019, as compared to Rs 9.89 for the period ended March 31, 2018. Net sales were Rs 3420.91 crores during the 12 month period ended March 31, 2019, as compared to Rs 3039.70 crores during the 12 month period ended March 31, 2018.