For a total price of ₹ 166.51 crores, Kewal Kiran Clothing Limited has announced the strategic purchase of a 50% share in Kraus Casuals Private Limited (“KCPL”). The acquisition of the equity share will take place via main infusion and secondary purchase. Through this purchase, KKCL enters the Women’s Denim & Casual Wear industry, expanding its market reach and solidifying its position as the market leader in India and the UAE.
KCPL, presently operating under the “KRAUS jeans” brand, is a manufacturer, retailer, designer, and exporter of women’s apparel, with a focus on denim bottom and top wear and casual apparel for women, teens, and children. Previously, Oriental Trading Company (“OTC”) was the partnership entity under which the business operated. A Business Transfer Agreement (BTA) between KCPL and OTC states that the Partners of OTC—Mrs. Ravi Punjabi, Mr. Sunil Punjabi, Mr. Sushil Punjabi, and Mr. Atmaram Punjabi—have consented to transfer the partnership’s operations to KCPL as a continuing concern.
Kraus’s extensive network of 488+ Exclusive Brand Outlets, 80+ Distributors covering 3,000+ MBOs, and presence across national chain stores in more than 2000+ counters spread across India will complement KKCL’s extensive network of 488+ Exclusive Brand Outlets and Reliance, Shoppers Stop, Lulu, and other large format stores.
“Today’s acquisition marks a significant milestone in our journey, aligning with our strategic vision of expanding and diversifying our Denim & Casual Wear portfolio,” stated Mr. Kewalchand Jain, Chairman & Managing Director of KKCL. Not only is this the first purchase in KKCL history, but it also demonstrates our dedication to expansion and innovation.
“We are impressed with the founders and the way they have been able to create a credible brand in the underpenetrated & complicated Women’s Denim & Casual Wear market,” stated Mr. Hemant Jain, Joint Managing Director, KKCL. Our goal to establish ourselves as a family-friendly casual wear company is accelerated by this purchase.
