Libas Consumer Products enters into innerwear segment

NSE-listed company, Libas Consumer Products informed via a press release that the company is launching, ‘KNG Riyaz Ganji’, an intimate wear brand for men & women.  

The brand will have both, online and offline presence. The company has been selling accessories with this name in Dubai, USA & UK since 2012.  

Read this:  https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/19294/Libas-launches-an-e-commerce-website

Under this brand, the company will be selling underwear & innerwear, track pants, nightwear, casual wear, boxer, 3/4th shorts as well as T-shirts.  

The production will be carried out at the company’s factory situated in Mumbai. The company will be selling via various online portals such as Amazon, Flipkart as well as its own portal.   

Libas Consumer Products is aiming to be amongst the top three leading players in the innerwear segment. The press release has highlighted that the company is expected to generate revenue worth Rs 300 crore in the next three years.  

Meanwhile, the company recently announced its Q1FY22 results. The total revenue of the company increased from Rs 3.19 crore at the end of Q1FY21 to Rs 12.08 crore for Q1FY22, showing an almost fourfold jump. The company has made a turnaround in this quarter and posted a profit in the latest quarter. For the first quarter of FY22, the company posted a profit of Rs 1.74 crore compared to a loss of Rs 5.65 crore posted in the same period last year.