Advent acquires women's innerwear brand Enamor for equity

Private equity investor, Advent International announced on Friday it has acquired a 100 per cent stake in Enamor, a women's premium innerwear brand in India, from India Alternatives, Faering Capital and the Promoters for a combined equity value of approximately Rs 320 crore.

The transaction is Advent's eighth investment in India in the past four years and its fourth in the consumer goods sector during the same period, Advent said in a statement.

Founded in 2001 as a joint venture with Barbara of France, Enamor offers a range of lingerie, sportswear and athleisure wear.

The company has 20 exclusive brand outlets and over 4,500 points of sale nationwide, predominantly located in larger cities, as well as a strong online presence and e-commerce business.

"Enamor is a market leader in a dynamic segment with significant growth potential and a strong management team who will continue to lead the business," said Vinod Padikkal, a Director at Advent International.

Shekhar Tewari, CEO of Enamor, said women's lingerie in India is a high-growth market, with only a few strong brands in operation.

"As lingerie sales increase alongside disposable income, Enamor, one of the market's leading players, is strongly positioned to benefit from these trends", he said.

Over the past 12 years, Advent has deployed more than USD one billion in ten companies with headquarters or operations in India across sectors such as consumer products, financial services, healthcare, industrial and technology, the statement added.