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Lovable Lingerie Ltd.

BSE: 533343 Sector: Industrials
NSE: LOVABLE ISIN Code: INE597L01014
BSE LIVE 15:54 | 17 Oct 233.10 0.90
(0.39%)
OPEN

232.00

HIGH

241.90

LOW

228.30

NSE 15:56 | 17 Oct 233.60 1.30
(0.56%)
OPEN

233.00

HIGH

242.05

LOW

231.55

OPEN 232.00
PREVIOUS CLOSE 232.20
VOLUME 24492
52-Week high 306.65
52-Week low 184.05
P/E 36.03
Mkt Cap.(Rs cr) 392
Buy Price 233.10
Buy Qty 160.00
Sell Price 0.00
Sell Qty 0.00
OPEN 232.00
CLOSE 232.20
VOLUME 24492
52-Week high 306.65
52-Week low 184.05
P/E 36.03
Mkt Cap.(Rs cr) 392
Buy Price 233.10
Buy Qty 160.00
Sell Price 0.00
Sell Qty 0.00

Lovable Lingerie Ltd. (LOVABLE) - Company History

Lovable Lingerie Ltd is one of India's leading women's innerwear manufacturers. The company's products include brassieres, panties, slips/ camisoles, homewear, shapewear, foundation garments and sleepwear products. 'Lovable' and 'Daisy Dee' are their flagship brands. Their brand 'Lovable' is amongst the top three most preferred brand in women's innerwear in India. The company is headquartered in Mumbai, Maharashtra and has three manufacturing facilities of which two facilities are situated at Kanakapura road in Bengaluru and one is situated in Roorkee, Uttarakhand. The company has undertaken the concessionaire retailing model to market their products and increase the retail sales of the company. In this model, the company procures dedicated retail space in leading high-traffic retail outlets like large format stores (LFS)/ department stores. In this dedicated space, the company's brand 'Lovable' makes the arrangement for stocking, displays and visual merchandising in the form of its 'shop-in-shop' modules and its display fixtures. Unlike a multi-branded display, in this model the dedicated retail space stocks only their brand's products, reflects their brands visuals and is manned by their sales representative. Currently, the company has 121 counters in stores like Westside, Shoppers Stop, Lifestyle amongst others in 21 cities, all over India. Lovable Lingerie Ltd was incorporated on September 29, 1987 as a private limited company with the name Hybo Knit Pvt Ltd. In December 20, 1985, the name company was changed from Hybo Knit Pvt Ltd to Lovable Lingerie Pvt Ltd. In December 26, 1995, the company entered into a license agreement with Lovable World Trading Co, Inc. USA, whereby the company was given a non-transferable, non assignable exclusive license to use the trademarks 'Lovable' and 'Celebrity'. Hence, they commenced commercial operations by setting up a manufacturing unit in Bengaluru with an installed capacity of 70,000 pieces per annum. In December 23, 2000, the company entered an agreement with Lovable World Trading Company, USA and acquired the brand 'Lovable' on an exclusive basis for the territories of India, Nepal, Sikkim and Bhutan. In July 2002, they entered into an MoU with Vanity Fair, Inc for acquiring the license for the brand 'Vanity Fair'. In March 18, 2004, the company diversified their portfolio of brands and acquired the brand 'Daisy Dee' from Maxwell Industries Ltd as part of their growth strategy to cater the mid segment market in India. In the year 2005, the company set up their manufacturing facility in Bengaluru and thus, the company's total installed capacity increased from 26 lakh pieces to 50 lakh pieces. In the year 2006, they further increased the total installed capacity from 50 lakh pieces per annum to 60 lakh pieces per annum. In the year 2007, the company discontinued manufacture of products under the 'Vanity Fair' brand. In March 2009, the company acquired the brand 'College Style' from Levitus Trading Ltd, Hong Kong through a deed of assignment to cater to the young segment of India. In February 2010, the company set up a manufacturing unit at Roorkee, Uttarakhand with an installed capacity of 7.5 lakh pieces per annum to manufacture brassieres and panties. With this, the total installed capacity of the company increased from 60 lakh pieces per annum to 67.50 lakh pieces per annum. In April 19, 2010, the company was converted into a public limited company and the name was changed to Lovable Lingerie Ltd. In July 15, 2010, the company entered into a joint venture agreement with Lifestyle Galleries of London Ltd (Lifestyle Galleries) to establish a joint venture company in India by the name of Lovable Lifestyles Pvt Ltd (Lovable Lifestyle). Lovable Lifestyle intends to launch product lines in women's innerwear and in related lifestyle categories. The company proposes to implement a project for modernization and integration at a new location in Doddakalasandra, Bengaluru which will result in increase in capacity and value-addition by 25 lakh pieces per annum. Also, they propose to extend the 'Lovable' brand into product segments like sleepwear and home wear. The company intends to introduce new sub-brands according to the trends in the market, to compliment our existing bouquet of products, for example, leisure wear and night wear for women under the 'Lovable' brand. In addition, the company also intends to promote some of their innerwear sub-brands, such as 'College Style', as flagship brands. The company proposes to invest considerably in marketing and advertising resources and scale-up our 'College Style' sales team and leverage theie distribution network for a nation-wide launch.