Being Human, venture of Bollywood's superstar Slaman Khan, has now entered into an exclusive partnership with Mandhana Retail Ventures Retail Ltd. (MRVL). The newly signed pact allows the retail to distribute, market and sell the products of Being Human exclusively through its stores.
Confirming the news about the agreement, Mandhana Industries informed Bombay Stock Exchange (BSE) that MRVL is the exclusive licensee to market, distribute and sell the products under the trade mark of brand ‘Being Human’.
Company’s statement further added that MVRL is the resulting company following the demerger of the retail business of Mandhana Industries. On execution of new agreement with MRVL, the earlier agreement executed between the company and the foundation stands terminated.
The board of directors of Mandhana Industries had approved the demerger of the company’s retail and trading business of the brand Being Human to MRVL. The shareholders of Mandhana Industries will get two equity shares of MRVL to every shareholder holding three equity shares of the company.