In a move towards international expansion, Image Pakistan Limited, a prominent player in the local textile and fashion industry, has announced that it has been offered an opportunity to acquire M/s. Elegantes London (Holdings) Limited — a prestigious Harrods-listed brand specialising in ultra-luxury fragrances and wellness products.
The announcement was made through a formal communication to the Pakistan Stock Exchange (PSX), under the requirements of Section 96 of the Securities Act and clause 5.6.1(a) of the PSX Rule Book.
“We have been offered to acquire M/s. Elegantes London (Holdings) Limited a Harrods-listed, ultra luxury fragrance and wellness brand offering brand equity, and significant white-space opportunities across UK and USA which offers an extraordinary platform for growth in the expanding global luxury sector,” Image said in its communication to the PSX.
Elegantes London is known for its high-end fragrance and wellness products and offers a strong brand presence across the UK and USA. The company represents substantial growth potential through white-space opportunities in the global luxury market.
Image Pakistan Limited revealed that it already has plans to enter the fragrance sector. The potential acquisition is being considered through its wholly owned subsidiary, M/s. Image International Limited, which is incorporated in England & Wales.
Image Pakistan, incorporated on November 14, 1990, manufactures and sells embroidered fabric and ready-to-wear garments under the brand name Image which is a high street retail fashion brand.
