Suditi Industries, a textile and garment manufacturer, has acquired Gini & Jony, a well-known kidswear retailer, for an undisclosed amount.
Gini & Jony operates through 700 sales points
Founded in 1980 by Prakash Lakhani, Gini & Jony operates through 700 sales points, including 59 standalone stores, over 70 large format outlets, and 600 distributors and dealers.
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In a board meeting held on November 14, Suditi Industries approved the acquisition of trademarks, domain names, and social media handles associated with Gini & Jony. The company plans to leverage its manufacturing capabilities to expand the brand’s presence in the Indian market.
Meanwhile, Pawan Agarwal, Managing Director, Suditi Industries, said regarding the acquisition, “Suditi’s internal capacity to produce fabrics for over 100,000 garments per day positions us uniquely to scale Gini & Jony. This translates to roughly INR 6 crore of sales per day for the brand, highlighting the immense potential of what we can achieve by focusing our expertise and resources.”
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Notably, Gini & Jony had faced financial difficulties in the past, including significant debt and overdue payments to lenders. Despite Reliance Group acquiring a minority stake in the company in 2005, and Reliance Capital Ltd later holding a 22 percent stake, the brand was forced to file for corporate debt restructuring in 2011 due to slow demand and rising costs. Suditi Industries, a BSE-listed company, is engaged in textile and garment manufacturing and retails apparel under private labels like YouWeCan, Nush, and IndianInk.
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The company also offers its products through e-commerce platforms like Myntra and offline channels such as Pantaloons. In FY23, Suditi Industries reported standalone revenues of INR 92.43 crore, with a net loss of INR 10 crore. The acquisition comes at a time when the Indian kidswear market is experiencing rapid growth, driven by a burgeoning population of approximately 340 million children under 14 years old and a rising demand for branded children’s clothing.
With this acquisition, Suditi Industries aims to adopt an omni-channel approach, combining Exclusive Brand Outlets (EBOs), Large Format Stores (LFS), and e-commerce platforms to expand Gini & Jony’s footprint. Harsh Agarwal, Chief Marketing Officer, Suditi Industries, said, “There are only a handful of brands in India that serve the entire nation, and Gini & Jony was not only the first but remains the name with the highest brand recall in the space. With our omni-channel approach and the combined learnings of both teams, we aim to build a powerhouse that serves every Indian family. The legacy of Gini & Jony is irreplaceable, and we are committed to strengthening its position in the market.”
