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Indo Count, India’s leading bed linen manufacturer and exporter, said it acquired international home fashion brand Wamsutta from US-based Beyond, Inc.
In a BSE filing, it said that this acquisition was made on a cash-consideration basis for $ 10.25 million.
“This acquisition, which closed on April 18, 2024, strengthens Indo Count’s brand portfolio, and elevates its position in the premium market segment,” it said in a statement.
The brand was established in 1846 by Wamsutta Mills in Bedford, Massachusetts. Springs Industries acquired the brand in the 1980s and then sold it to the now-defunct Bed Bath & Beyond retail chain in 2012. Over the years, the brand became a popular national brand in the US for bedline products, among others.
Mohit Jain, Executive Vice Chairman of Indo Count, said, ”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 global 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,” he added.
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