Advent International acquires innerwear brand Enamor
today Oct 7, 2019
Global private equity investor Advent International has acquired a 100 percent stake in innerwear brand Emanor for Rs 320 crore ($45.2 million) from India Alternatives, Faering Capital and its promoters.
Advent sees huge potential for growth in the Indian innerwear segment with this acquisition and will be making strategic investments to further strengthen the brand in India.
Enamor is also confident that the acquisition will help it strengthen its foothold in the segment and boost its sales going forward.
Commenting on the acquisition, Vinod Padikkal, director at Advent International in a statement said, “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. We are excited to work with the team to help take the brand to the next level.”
Shekhar Tewari, CEO of Enamor added: “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. We look forward to working with a global investor such as Advent, who will bring significant expertise and resources to help grow our business faster.”
Enamor offers a high quality range of lingerie, sportswear and athleisure wear. It currently sells from its 20 exclusive brand outlets and over 4,500 points of sale nationwide. The brand also has a strong online presence and e-commerce business.