S Kumars news and archive

S Kumars lenders mull legal action against default

A consortium of 12 lenders of cash-strapped apparel and fabrics major S Kumars Nationwide (SKNL) is considering legal action against it and its defaulting suiting brand Reid & Taylor in order to recover overdue loans of Rs 3,000 crores. The consortium includes State Bank of India, ICICI Bank, Corporation Bank, Punjab National Bank and IDBI Bank....

Apparel

S Kumars mulling Reid & Taylor sale

Promoters of cash-strapped textile maker S Kumars Nationwide Ltd (SKNL) are planning to sell a controlling stake in their subsidiary Reid & Taylor and deleverage the balance sheet. A decision to sell a majority stake in the marquee-suiting brand has already been taken and a formal sale process is expected to be taken in the coming weeks. About a...

Apparel

Luxury brand Alfred Dunhill to exit India

Alfred Dunhill, the luxury brand is shutting all its three outlets in India run through a franchise deal with Brand House Retail, an S Kumars group company. The economic slump and low consumer sentiment has led to both reaching a mutual agreement over the decision of wrapping up India operations for the brand. Though the decision to exit India...

Apparel

SKNL raises Rs 235 crores

S Kumars Nationwide Limited (SKNL) has raised Rs 235 crores by issuing fresh shares to Qualified Institutional Buyers (QIBs). The company received an order book of approximately 2.5 times the base issue size of $25 million and opted to exercise the over allotment option of $25 million. The issue was widely subscribed including investors from the...

Apparel

World Player in Kerala

S Kumars Nationwide Limited (SKNL) has launched its new apparel brand World Player in Kerala. S Kumars is India’s leading textile and apparel company with expertise in multi-fiber manufacturing. Aimed at 18 to 35-year age olds, World Player offers a wide, vibrant new range of stylish clothing and accessories at an affordable price and will be...

Apparel

S Kumars’ profit up

Textile major S Kumars Nationwide Ltd (SKNL) has posted a 42.1 per cent jump in consolidated net profit to Rs 277.30 crores for the year ended March 31. It had reported a net profit of Rs 195.10 crores for the previous fiscal. The company’s net income from operations increased by 69.6 per cent to Rs 3,860.9 crores for the fiscal 2010 from Rs...

Apparel

S Kumars signs JV with Donna Karan

S Kumars Nationwide has entered into a joint venture agreement with Donna Karan International (DKI), part of the luxury goods group LVMH Moet Hennessy Louis Vuitton. The joint venture, which is valid until 2015 with an option to extend for seven more years, allows S Kumars to source design and distribute DKNY menswear globally. S Kumars will...