Indo Count Acquires US Premium National Brand WAMSUTTA
April 19 2024 - 1:01PM
Business Wire
WAMSUTTA to elevate Indo Count’s brand
portfolio and to have material impact on go-forward
business
Indo Count, the largest global bed linen manufacturer and
exporter from India, announces its strategic acquisition of the
international home fashions brand WAMSUTTA from Beyond, Inc. (NYSE:
BYON). Wamsutta – an industry-leading home fashions brand – has
delighted generations of consumers with luxurious bed, bath and
other home fashion products. This acquisition, which closed on
April 18, 2024, strengthens Indo Count’s brand portfolio, and
elevates its position in the premium market segment. Terms of the
deal were not disclosed.
Renowned for its exceptional quality and a brand legacy dating
back to 1846, WAMSUTTA is poised for substantial growth under Indo
Count's leadership.
Mohit Jain, Executive Vice Chairman of Indo Count,
expressed his enthusiasm about the acquisition, stating,
"Wamsutta – with its 178-year brand heritage – resonates strongly
in the marketplace. We will explore multiple channels of
distribution to reach the core Wamsutta consumer and also introduce
an entire new generation to the exceptional quality and luxury of
the Wamsutta brand.”
“Our strategic vision is to leverage our operational
capabilities to enhance the brand value proposition and fulfill its
potential globally. WAMSUTTA’s brand equity, combined with Indo
Count's global reach will catapult the brand to new heights and
represents a significant milestone towards our expansion strategy,"
Mr. Jain added.
About Indo Count Industries
Limited
Indo Count Industries Ltd (ICIL) is the largest global home
textile bed linen manufacturer. Mr. Anil Kumar Jain, Founder &
Executive Chairman, has been ranked 10th amongst India’s Best Top
100 CEO’s 2017 by Business Today. Under his leadership, the company
has focused on some of the world’s finest fashion, institutional
and utility bedding & sheets and has built significant presence
across the globe.
Over the years, the company has successfully carved out a niche
for itself and has become a total bedding resource. The company’s
current annual capacity is 153 million metres.
ICRA’s credit rating for the company is ICRA AA- (Double A
minus; Outlook Stable) for its Long-Term Bank Facilities and ICRA
A1+ (A one plus) for its Short-Term Bank Facilities.
CARE Ratings credit rating for the company is CARE AA- (Double A
minus; Outlook: Stable) for its Long-Term Bank Facilities and CARE
A1+ (A One plus) for its Short-Term Bank Facilities.
About Beyond, Inc.
Beyond, Inc. (NYSE: BYON), based in Midvale, Utah, is an
ecommerce expert with a singular focus: connecting consumers with
products and services that unlock their homes’ potential. The
company owns Overstock.com, Bed Bath & Beyond, Baby &
Beyond, Zulily, Kids & Beyond, Backyard.com, College Living,
and other related brands and associated intellectual property. Its
suite of online shopping brands features millions of products for
various life stages that millions of customers visit each month.
Beyond regularly posts information about the company and other
related matters on the Newsroom and Investor Relations pages on its
website, Beyond.com.
Beyond, Bed Bath & Beyond, Baby & Beyond, Welcome
Rewards, Zulily, and Overstock.com are trademarks of Beyond, Inc.
Other service marks, trademarks and trade names which may be
referred to herein are the property of their respective owners.
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Berns Communications Group Danielle Poggi dpoggi@bcg-pr.com