SKNL’s Belmonte Division changes hands

SKNL, the textile and branded apparel giant will soon sell its mid

premium segment brand Belmonte to its own wholly owned subsidiary company Belmonte Retails. The members of the board at SKNL have passed the resolution for making any loan, investment, guarantee or provide any securities beyond the prescribed limits in subsidiary companies. The Board announced that members of the company, by way of postal ballot, have passed the following resolutions, with requisite majority for sale of the company’s Belmonte Division carrying out business in the mid-premium segment comprising of fabrics and ready-to-wear garments business to its wholly owned subsidiary company Belmonte Retails Limited.

SKNL is one of India’s leading textile and apparel manufacturer, with expertise in multi-fiber manufacturing. The company has extended its presence in multiple product categories from fabrics to apparels and home textiles. SKNL has set standards of excellence, acquiring many "firsts" to its credit and crossing a number of "milestones" in its journey. As a company that caters to the entire spectrum of the socio-economic segment, SKNL takes upon itself the unique distinction of being the clothiers to the entire nation.

Belmonte offers suiting in wool blends and jacketing fabrics in pure wools, tweeds, wool silk and wool cotton blends. The Belmonte range captures international designs and trends offering a variety of fabrics in various blends for the consumer. The brand also offers ready to wear garments thus offering a total wardrobe solution to the globally aspiring Indian youth. Belmonte also offers the fashion conscious consumer to choose from a range of chinos, cargos and wrinkle free trousers.