Libas Consumer Products Ltd. Enters FMCG Segment with Rock Salt Manufacturing; to Consider Declaration of Bonus Issue
Mumbai, Maharashtra, India
NSE listed Libas Consumer Products Ltd. (earlier Libas Designs Ltd.), engaged into contemporary and ethnic men’s and women’s wear, wear apparel, jewellery, etc. and a Leading fashion brand Riyaz Gangji Libas has entered FMCG segment with its first consumer product ‘rock salt‘ whereby it supplies to the top salt companies in India. As per company’s announcement on NSE, the board is scheduled to meet on 19 Feb, 2021, to consider and approve declaration of Bonus Issue of shares and other related matter.
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Mr. Riyaz Gangji Wholetime Director
Its brand, Gangji salt is synonymous with top rock salt buyers in India, company manufactures and sells almost 3000 mt a month processing and packaging at its ultra-modern state-of-art manufacturing unit at Bharuch. The company also has tied up with top 15000 organic farmers to produce and package flourishing organic products for export and local market with consumer habits changing and focus being on healthy nutritious products this seems the right way says MD Reshma Gangji and CEO Ravish Gujral.
Libas had recently entered into a Joint Venture Agreement with Goat33, a company incorporated by Kenneth “Flex” Wheeler, an International Award Winner Athlete, to manufacture, distribute and sale of custom suits designed and fitted for individuals with athletic personality. Libas consumer products Limited specializes in contemporary and ethnic men’s & women’s wear, wearing apparel, jewelry and other related items in India and is one of the largest suppliers of uniforms in the Middle East. The Company has a pan India presence. Getting a great fitting suit isn’t always easy. The fit is one of the most common problems men face when they shop for suits. To overcome these common fit problems for different body types, Libas is venturing into a new geography with a more niche segment to solve the problems which many athletes face. We believe that an athletic physique shouldn’t be prevented any more from dressing well.
Mr. Riyaz Gangji, Wholetime Director said, “Stepping out of the continent with designs for Flex Wheeler, we’re now gonna be onboard designing an exclusive range for international athletes and Hollywood personalities.” Flex Wheeler Fashion is the venture for giving a custom evening dressing speak for the sportsmen as that will speak for their unique body structure – both in terms of fit and style. Kenneth Wheeler hails from Fresno, California, is a legendary four times winner of the Arnold Classic Champion – an International Bodybuilding Competition. He is known as “one of the greatest bodybuilder of all time”, “The Sultan of Symmetry”, Ironman Pro Winner, and many more for his remarkable flexibility. Along with the launch of his nutrition line, he will be launching the custom-fitted suits.
Any well-cut made-to-measure suit starts with good measurements as it’s the foundation for a great outfit, so a special software and website has been developed to input their measures. Flex Wheeler said, “Flex Wheeler Fashion will be worn by world. We are coming up with a custom suit line to suit your personality and taste.” Libas has entered into a five-year contract manufacturing agreement with 40% share in profits.
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