Type | conglomerate |
---|---|
Traded as | BSE: 700010 NSE: SKUMARSYNF |
Industry | textiles & apparels |
Founded | 1948 |
Founder(s) | Abhayakumar Kasliwal and Shambhukumar Kasliwal |
Headquarters | Mumbai, India |
Key people | Nitin Kasliwal (VC & MD), SKNL[1] |
Website | sknl.co.in |
The S. Kumars Group is an Indian conglomerate with interests in textiles, apparels, energy, e-commerce, ITES, leisure and retailing sectors. The flagship company of the group, S. Kumars Nationwide Limited or SKNL (BSE: 700010, NSE: SKUMARSYNF), manufactures and markets the famous Reid & Taylor brand in India. SKNL was formerly known as S. Kumars Synfabs Ltd.
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The S. Kumars Group was established in 1948 by Abhayakumar Kasliwal and Shambhukumar Kasliwal, who built a textile distribution network, and followed it with textile manufacturing.[2]
On 28 September 1990, S Kumars was incorporated as a private limited company, and became a deemed Public Company with effect from 28 February 1991. It became a Public Company on 7 July 1992.
The company then transformed to SKNL (S. kumars Nationwide Limited). SKNL is one of India’s leading textile and apparel company with expertise in multi-fiber manufacturing. The company has extended its presence in multiple product categories from Fabrics to Apparels and Home Textiles.
S. Kumars has set up a texturising and twisting plant at Pithampur in Madhya Pradesh. In 1997, S. Kumars acquired a spinning-cum-weaving unit near Dewas (Madhya Pradesh), from Standard Industries Limited.
In 1998, S. Kumars entered into a collaboration with Reid & Taylor of Scotland for manufacturing and marketing the Reid & Taylor worsted suiting in India. In 2006, SKNL launched "Carmichael House", a complete range of home linen products and accessories.[3]
In 2006, SKNL launched "Belmonte", a youth menswear brand that had both fabric and ready-to-wear garments under one label. It cliams to be India's only youth brand to offer "Total Wardrobe Solutions" - Fabric, Apparel and accessories.
In 2007, the prestige clothing brand Stephens Brothers was licensed to SKNL in India. It was launched in December 2007, to introduce the English cut & style to Indian consumer. The brand is now owned by the UK Group Austin Reed.
In 1988, S. Kumars established a two-wheeler tyres and tubes manufacturing facility at Pithampur in Madhya Pradesh. It also entered into an alliance with Apollo Tyres, for marketing and growth.
The Maheshwar Hydro Electric Project, located at Mandleshwar in Madhya Pradesh was awarded to S. Kumars Group in 2001, on "build, own and operate" basis. However this project is still to be completed. The project became controversial due to non-payment on various occasions by S. Kumars.
Landmarc Leisure Corporation Limited was established as S. Kumars' leisure and entertainment business arm. It was originally found to set up a chain of family entertainment centers across India, the first two being launched in Worli (Mumbai) and Indore. In 2001, S. Kumars launched S-MAART, a department store in Landmarc Citi, Worli. In 2002, Landmarc Leisure Corporation decided to develop its leisure brand under two entities: Landmarc (family entertainment centers) and Mikanos (nightclubs).[4]
S. Kumars Online Ltd. (SKOL) was set up as the e-commerce arm of the S. Kumars Group, while Induj Infotech Ltd. was set up as its ITES arm.
In 2009, Company has acquired assets of Hartmarx Corporation, a well-known company in American and European markets.
SKNL businesses are divided into product-specific Strategic Business Units (SBUs): Consumer Textiles, Home Textiles, Worsted Suitings, Ready to Wear and High Value Fine Cotton (HVFC). Each of these SBUs is headed by an Executive Director, Chief Executive Officer or a Chief Operating Officer. The corporate activities related to finance, planning, research, publicity, marketing, human resources etc. are centralized.
S. Kumars acquired rights for manufacturing and marketing the Reid & Taylor worsted suiting in India in 1998. Reid & Taylor was originally started by a Scottish man named Alexander Reid in the 1830s. The concern, financed by Joseph Taylor, went on to become a notable worsted suiting brand. S. Kumars set up a luxury suiting plant at Mysore in 1998 for Reid & Taylor (India) Ltd. The brand has been endorsed by India's notable film actor, Amitabh Bachchan. In 2008, 24.5% stake in Reid & Taylor was acquired by an affiliate of GIC Special Investments for Rs 900 crore.[5]