Lovable wholesale halloween costumes Lingerie surges 20% on pact to make, market Adidas products, Retail News, ET Retail
Victoria's swimwear manufacturer China Secret Saved the National Guard's Skin From the Hurricane Sandy BlackoutMUMBAI: Shares of Lovable Lingerie surged 20 per cent in trade after the company announced it has entered a pact to make and market Adidas products in Indian market.
The company "has entered into a brand sublicensing wholesale swimwear agreement with "Global Merchandising" (an Overseas Company of Adidas Group) & acquired license of its Brand for a period of 1+2 years to manufacture, distribute and sell the products in the Indian market," the company said in a filing to the stock exchanges.
Meanwhile, the company disappointed with its second quarter results. It reported a net profit of Rs 4.2 crore, down 4.5 per cent, from Rs 4.4 crore, in the corresponding quarter last fiscal.
Sales during the quarter increased to Rs 46 crore, up 9.5 per cent, from Rs 42 crore, in year ago period.
At 03:00 p.m.; the stock was at Rs 440.15, up 20 per cent thus hitting the upper circuit, on the BSE.