Trident rises after announcing licensing agreement with Kathy Ireland
The company's consolidated net profit soared 200.42% to Rs 112.15 crore on 20.39% increase in revenue from operations to Rs 1,303.15 crore in Q3 December 2020 over Q3 December 2019.
Trident gained 1.03% to Rs 14.68 after the company on Tuesday said it strengthened its brand portfolio, with the recent addition of Kathy Ireland brand, through the licensing agreement with Kathy Ireland.
Under this exclusive licensing agreement, Trident shall have the right to use the Kathy Ireland brand, in its home textiles products. The collection will also be included in Trident’s rapidly expanding e-commerce business, featured on many of the most recognizable platforms in the digital space, as well as at select major brick and mortar retailers.
With this initiative, Trident said it will emerge as vigorous international home textile player and will showcase its presence efficaciously to the brand-conscious market of United States of America, Canada, United Kingdom, India, and the European Union.Punjab-based Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.
The company’s consolidated net profit soared 200.42% to Rs 112.15 crore on 20.39% increase in revenue from operations to Rs 1,303.15 crore in Q3 December 2020 over Q3 December 2019.
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