In agreement with Fruit of the Loom Int., Rupa & Co 16% up
DSIJ Intelligence / 15 Mar 2017
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Rupa and Co's Oban Fashion signed a deal with the New York based corporation, Berkshire Hathaway's wholly owned subsidiary, Fruit of the Loom International.
India's leading textile company Rupa and Company's wholly owned subsidiary, Oban Fashion signed a deal with the New York based corporation, Berkshire Hathaway's wholly owned subsidiary, Fruit of the Loom International.
Established in 1851, Fruit of the Loom, manufactures inner wear and outerwear products in the US.
Through the unison, Oban Fashion obtained the license from Fruit of the Loom to manufacture, distribute, advertise and sell innerwear and outerwear products in India under the latter's brand names. The products will provide a range for the boys, girls, men, women and the toddlers.
Post the license agreement, the stock prices of Rupa and Company witnessed a surge of over 16 per cent intraday on Wednesday, March 15, 2017.
The stock of the company is trading at Rs 289.65, up by 4.99 per cent on BSE, while, the company gained by 4.79 per cent valuing at Rs 288.90 on NSE.
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