Garment Mantra Lifestyle Limited gains 19 per cent over expansion news

Garment Mantra Lifestyle Ltd has decided to widen and diversify its offerings to the public beyond garments into products such as electronics, fashion accessories as well as home appliances.  

Having established its strength in the garment segment by sourcing quality fabrics from larger brands at a healthy discount and offering quality products at a competitive price to its customers, it seems to carry out the same in electronics, fashion accessories, and home appliances segment.   

The bulk order procurement of Rs 800 crore includes orders from all the above categories. The company is likely to market these new products through its integrated platform, which includes its current sales network and a mix of B2B and B2C platform. The new business model will be a major growth driver as well as a margin accretive for the company.   

Garment Mantra focusses on fulfilling the fashion and lifestyle aspirations of the mass Indian population. It is engaged in the business of garment manufacturing and selling knitted fabrics as well as knitted garments. The company’s complete range consists of about 5,000 products and is mainly targeted to mass customers, which constitute around 70 per cent of the domestic population.  

Its share prices reacted positively and were trading at Rs 73.00 during the early market hours on Monday; up by 19 per cent over its previous close.