An exclusive online clothing shopping website Glamly has announced the first-ever sale, featuring bespoke brands and their collections, namely, Madame, M Secret, and Camla. The first of its kind sale on Glamly provide lucrative offers and discounts on men, women, and kids fashion wear giving its customers a unique chance to purchase their favorite products at exciting prices.
Commenting on the first of its kind sale, Akhil Jain, Executive Director, Madame, said, “We are extremely excited to announce the first-ever sale on our exclusive online platform glamly.com. This is an opportunity for us to reach millions of customers across the country and envision this to accelerate our customer base. With our attractive discounts and offers, we aim to help our customers find everything they need and deliver it safely to them.”
Glamly’s range of clothing during the sale for men and women includes stylish and comfortable clothing that will help the consumers keep up with the fashion trend. With a no-compromise policy, Glamly is designed to provide quality content that not only showcases the latest trends but also displays elements of relaxation and fun which help the customer to connect with the brand online too.
Shalvi Govil, Business Manager, E-Commerce Division, Madame, added, “It is now a fast-moving trend to host a sale on e-commerce platforms and I am glad that we decided to do it at the right time. Now more than ever, people are more interested in buying things that are available at a discounted price with exciting offers yet not compromising on the quality. Such discounts and offers always attract customers in making a purchase decision. We are confident that this sale will not only be a success but also add in many new customers to our list.”
Madame’s digital presence elevated the business revenue to 8 percent from the previous 2 percent. Tier-II and III cities were major contributors to the increase in online sales. The progressive customer traction on the website led to a facelift of the existing platform and its supporting features.
Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.
Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.
Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.”
Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.”
Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.
Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.
Copyright © 2009 - 2024 Franchise India Holdings Ltd