Lovable Lingerie Ltd Company Summary

Lovable Lingerie Ltd Summary

Lovable Lingerie Limited was incorporated on September 29, 1987 as a private limited company with the name Hybo Knit Pvt Ltd. On December 20, 1985, the Company name was changed from Hybo Knit Pvt Ltd to Lovable Lingerie Pvt Ltd. Thereafter on April 19, 2010, the Company got converted into a public limited company and the name was changed to Lovable Lingerie Ltd.The Company is one of Indias leading womens innerwear manufacturers. The companys products include brassieres, panties, slips/ camisoles, homewear, shapewear, foundation garments and sleepwear products. Lovable and Daisy Dee are their flagship brands. Their brand Lovable is amongst the top three most preferred brand in womens innerwear in India. The company is headquartered in Mumbai, Maharashtra and has three manufacturing facilities of which two facilities are situated at Kanakapura road in Bengaluru and one is situated in Roorkee, Uttarakhand.The company has undertaken the concessionaire retailing model to market their products and increase the retail sales of the company. In this model, the company procures dedicated retail space in leading high-traffic retail outlets like large format stores (LFS)/ department stores. In this dedicated space, the companys brand Lovable makes the arrangement for stocking, displays and visual merchandising in the form of its shop-in-shop modules and its display fixtures. Unlike a multi-branded display, in this model the dedicated retail space stocks only their brands products, reflects their brands visuals and is manned by their sales representative. Currently, the company has 121 counters in stores like Westside, Shoppers Stop, Lifestyle amongst others in 21 cities, all over India.In December 26, 1995, the company entered into a license agreement with Lovable World Trading Co, Inc. USA, whereby the company was given a non-transferable, non assignable exclusive license to use the trademarks Lovable and Celebrity. Hence, they commenced commercial operations by setting up a manufacturing unit in Bengaluru with an installed capacity of 70,000 pieces per annum.In December 23, 2000, the company entered an agreement with Lovable World Trading Company, USA and acquired the brand Lovable on an exclusive basis for the territories of India, Nepal, Sikkim and Bhutan. In July 2002, they entered into an MoU with Vanity Fair, Inc for acquiring the license for the brand Vanity Fair. In March 18, 2004, the company diversified their portfolio of brands and acquired the brand Daisy Dee from Maxwell Industries Ltd as part of their growth strategy to cater the mid segment market in India.In the year 2005, the company set up their manufacturing facility in Bengaluru and thus, the companys total installed capacity increased from 26 lakh pieces to 50 lakh pieces. In the year 2006, they further increased the total installed capacity from 50 lakh pieces per annum to 60 lakh pieces per annum. In the year 2007, the company discontinued manufacture of products under the Vanity Fair brand.In March 2009, the company acquired the brand College Style from Levitus Trading Ltd, Hong Kong through a deed of assignment to cater to the young segment of India.In February 2010, the company set up a manufacturing unit at Roorkee, Uttarakhand with an installed capacity of 7.5 lakh pieces per annum to manufacture brassieres and panties. With this, the total installed capacity of the company increased from 60 lakh pieces per annum to 67.50 lakh pieces per annum.In July 15, 2010, the company entered into a joint venture agreement with Lifestyle Galleries of London Ltd (Lifestyle Galleries) to establish a joint venture company in India by the name of Lovable Lifestyles Pvt Ltd (Lovable Lifestyle). Lovable Lifestyle intends to launch product lines in womens innerwear and in related lifestyle categories.During the year 2017-18, Company commissioned its new plant at Erode.The Company in 2019, launched two new sub-brands by the name of Daisy Dee Sports & Daisy Dee Outfit. Raduno -Chandigarh- 2019 launched SS19 Collection (Lovable Lingerie, Daisy Dee & Lovable Sports).