Lenskart, through its Singapore subsidiary, will acquire an 80% stake in Spanish eyewear brand Meller. This move aims to broaden Lenskart’s reach in Europe. Lenskart’s Meller acquisition will also target the Gen Z demographic. The deal, valued at approximately Rs 406.93 crore, includes payments to Meller’s investors and founders. This acquisition strengthens Lenskart’s global strategy before its planned IPO.

Arvind, a textile manufacturer, witnessed a 35% surge in first-quarter profit, reaching 532.4 million Indian rupees, as global brands shift sourcing from China to India. Driven by a 14% revenue increase in its core textiles business, the company’s total revenue grew by 10% to 20.06 billion rupees.

Decathlon plans a major expansion of its sourcing from India. The sporting goods retailer aims to source over USD 3 billion from India in the next five years. This will increase India’s share of Decathlon’s global production. The company will scale up existing textile production and develop new product capabilities.

Lenskart files its DRHP with SEBI. The eyewear company plans retail expansion. It will allocate over Rs 800 crore from its IPO. The company will set up new stores. It will also cover lease payments. Lenskart aims to open 620 new CoCo stores. The company will invest in technology and marketing. It offers next-day delivery in 40 cities.

Lenskart files its DRHP with SEBI. The eyewear company plans retail expansion. It will allocate over Rs 800 crore from its IPO. The company will set up new stores. It will also cover lease payments. Lenskart aims to open 620 new CoCo stores. The company will invest in technology and marketing. It offers next-day delivery in 40 cities.

India’s leather and footwear exports to the UK are expected to nearly double from $494 million in 2024 to $1 billion within three years following the signing of the bilateral free trade agreement, Commerce and Industry Minister Piyush Goyal said on Monday.

Lenskart, India’s major eyewear retailer, has filed for an IPO with Sebi, potentially raising Rs 8,000 crore. The IPO includes a fresh issue of shares and an offer-for-sale by existing investors like SoftBank. The company intends to use the funds to expand its retail presence, invest in technology, and pursue acquisitions, building on its revenue growth and international expansion.

Nigeria’s Ogun state government and a Dubai-headquartered company, have decided to start work on a $2-billion garment unit, the biggest such factory in Africa.
The team is preparing for the ground-breaking ceremony of the project in September this year.
With a capacity to produce about 350,000 tonnes of garments per year, the factory would employ between 120,000 to 150,000 direct and indirect workers.

Arvind Fashions Ltd faced a setback in Q1, with standalone net losses widening to Rs 22.9 crore due to a 13.5% revenue decline. However, consolidated net profit surged to Rs 13 crore, driven by a 16% revenue increase to Rs 1,107 crore. The company’s online channel experienced robust growth, contributing 15% to the total revenue.

Lenskart Solutions Pvt., supported by SoftBank Group Corp., is preparing to file for an initial public offering (IPO) of approximately $1 billion as early as this week. The eyewear retailer is finalizing its valuation and will submit its draft red herring prospects with the market regulator.