It was just back in April that Rupa & Co. registered an all time high share record owing to their franchise agreement with the London based brand, FCUK. As the buzz was still loud, another key player from the intimate wear category set a good mark in the stock exchange with their new strategies and plans.
The Lovable Lingerie stocks have rallied 10% to Rs 278 on the BSE amid heavy volumes in an otherwise subdued market on June 2, 2016. All through the past three trading sessions before this, the stock for Lovable has outperformed the market by gaining 15% as compared to 0.12% decline in S&P BSE Sensex.
Will trying to dig the news and what corresponds to the sudden gain in the share market, we were told that Lovable Lingerie, a leading name in India’s women intimate wear segment, has recently entered into a distributorship agreement with Hanes Italy S.r.L (an overseas company of Hanes Brands group) & rights to import, distribute, promote and sell certain of its products under the “Lovable” trademark within the territory of India.
This early morning stock market breaking records is just a hint, of how big this pact is. Talking about the agreement, the company further informed that something big is in store until Lovable gears up to reveal it all to make everything official in a gala do, that the lingerie manufacturer is planning in a few days.