Lux Industries Ltd

Lux Industries Ltd

Lux Industries Limited was incorporated in the year July 21st 1995 and is principally engaged in the business of manufacturing & sales of knitwear's. The Company has operations in India and caters to both domestic and international markets and has a wholly owned subsidiary in India in the name of Artimas Fashions Private Limited. The manufacturing units of the Company are located in Kolkata (West Bengal) and Tirupur in the State of Tamil Nadu and Ludhiana in the State of Punjab. It has more than 1150 dealers and 7 manufacturing facilities across India. Lux Industries Limited was founded in 1957 by Mr Girdhari Lal Todi through the establishment of Biswanath Hosiery Mills. The Company came into existence since 1995. Over the years the Company established itself as a leader in the branded innerwear segment in India.During the year 2017 the Company sub divided its equity shares from Rs10/- each to Rs2/- each in the ratio of 5 shares of Rs2/- each for every 1 share of Rs10/- each.During FY 2018 the Directors had proposed the Composite Scheme of Arrangement under Section 230 to 232 of the Companies Act 2013 for Amalgamation of Transferor Companies i.e. J.M. Hosiery & Co. Limited and Ebell Fashions Private Limited into Transferee Company i.e. Lux Industries Limited. The Appointed Date of the Scheme is April 1 2018. The Scheme is subject to requisite approvals including the sanction of the National Company Law Tribunal. During the year 2018-19 the Company invested in 50.87% shares of Altai Industries Private Limited resulting said Private Limited Company becoming Subsidiary of Lux Industries Limited. During the year 2018-19 Company received NOC from SEBI for Composite Scheme of Arrangement for Amalgamation of Transferor Companies i.e. J.M. Hosiery & Co. Limited and Ebell Fashions Private Limited into Transferee Company i.e. Lux Industries limited and filed the Scheme before the NCLT with Appointed Date for the Scheme being April 01 2018. In August 2019 company launched winter wear with hoodies addressing the younger generation aged between 25 and 35. In financial year 2019-20 Altai Industries Private Limited cease to be the subsidiary of company with effect from May 14 2019.In FY'20 the Company launched ONN T-shirts. It launched a scented vest under brand 'Lux Cozi' the first time in India. The company's winter wear Inferno brand was endorsed by brand ambassadors Amitabh Bachchan and Kartik Aaryan strengthening offtake. It launched celebrated One8 brand endorsed by Virat Kohli.. It launched Lux Nitro a casual wear of T-shirt as product line. Artimas Fashions Pvt. Ltd. was created as a subsidiary of Lux Industries to establish a unique and customized value-chain that would establish and grow its mid-premium business. The subsidiary created independent and dedicated manufacturing capacities to manufacture all the products sold by the One8 brand. The brand launch was facilitated by a completely inorganic new distributor network. In December 2019 the brand was launched across 45 cities on a single day comprising portfolio innerwear.The Company launched its first exclusive brand outlet of CozyWorld in November 2020. It expanded product portfolio launched a short women's tunic from 100% rayon that enhanced softness. It launched night suits side pattern tracks and beginner's brassiere under the Lyra brand. It commissioned exclusive buying outlets (CozyWorld) to make retail purchases simpler in FY 2020-21. It merged Ebell Fashions creating a platform to build around popular women's brand Lyra. It merged J.M. Hosiery and acquired the manufacturing and marketing rights for GenX a budget-friendly youth brand. It deepened its presence in the premium segment through brands ONN Lux Premiums (Export) and One8. During the year 2021-22 two major Group Companies were merged with the Company. The Scheme of Amalgamation of J. M. Hosiery & Co Limited (JMHL) and Ebell Fashions Private Limited with Lux Industries was sanctioned by the Hon'ble NCLT Kolkata Bench vide its order dated March 25 2021 effective from May 01 2021 with Appointed Date being April 01 2020. Pursuant to the Scheme 4818681 equity shares were allotted by the Company on May 8 2021 to the shareholders of the JMHL & Ebell. It launched a campaign `Ikkis khoobiyon wali baniyaan' for Lux Cozi vests in FY'22.