(BRK.A), (BRK.B)
Fruit of the Loom has hit the retail shelves in India thanks to a licensing agreement with Rupa and Company, the number one knitwear maker in India.
Rupa, which has the capacity to make over 700,000 pieces of knitwear a day, is paying a fixed royalty for the right to manufacture Fruit of the Loom branded products.
“We aim to achieve sales of Rs 500 crore from Fruit of the Loom in next two-three years,” said Ramesh Agarwal, Whole Time Director of Rupa & Co., in an appearance on CNBC-TV18.
Agarwal is hopeful that the Fruit of the Loom brand will enable it to gain a 20 percent share of India’s premium underwear market.
Rupa has received broad recognition for its success in the knitwear industry, including receiving the Best Corporate Brand Award by The Economic Times at ‘The Economic Times Best Corporate Brands Summit 2015’ held in Mumbai.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.