Rattanindia Enterprises Ltd’s wholly-owned subsidiary, Neobrands Limited, has launched a new direct-to-consumer (D2C) fashion brand, causing the company’s shares to soar by over 7 percent in morning trade on April 19. The new venture will offer fashionable and high-quality clothing at affordable prices to India’s expanding fashion and apparel market, targeting young consumers. Neobrands Limited aims to become a hub for several brands in the fashion industry, with plans to introduce its labels exclusively through digital platforms during the initial phase, before expanding retail presence across the nation. This step aligns with the company’s goal to scale up its business while retaining its digital focus. Anjali Nashier Rattan, Business Chairperson of RattanIndia Enterprises, expressed confidence in the new venture, saying that their brands are poised to capture the market opportunity by offering affordable clothing options for men and women.
At 10.21 am, Rattanindia’s stock opened at Rs 40.44 on BSE, +4.74 percent from last close, after hitting a peak of Rs 41.42. The Indian fashion industry is seeing fantastic growth trends, especially in the D2C domain, with a huge demand for trendy and premium quality brands