PE firm CX Partners to buy 30 per cent stake in Soch

Private equity firm CX Partners is planning to buy around 30 per cent stake in Indian women’s ethnic wear brand Soch for slightly over Rs 300 crore. Soch opened its first exclusive store in Bengaluru’s Forum Mall in 2005. The brand retails through over 100 exclusive brand outlets across 39 cities, including Bengaluru, New Delhi, Mumbai, Chennai, Hyderabad. It retails through shop-in-shops across Shopper’s Stop and Central outlets, with a presence in over 50 large format stores.

The latest deal comes after Soch and Manyavar ended merger talks last year, which was to be backed by another PE investor Kedaara Capital. While Manyavar roped in Kedaara, its talks to buy Soch didn’t work out well, prompting the former to focus on developing its own women’s ethnic wear brand Mohey.