Celebrity Fashions Ltd Share Price

History of Celebrity Fashions Ltd

Celebrity Fashions Ltd was incorporated on April 28, 1988 as a private limited company with the name Celebrity Fashions Pvt Ltd. In the year 1998, the company became a deemed public company. In September, 2005, the company converted into a public limited company and the name was changed to Celebrity Fashions Ltd. The Company is one of India's consummate garment exporters with the capability to manufacturing the largest number of trousers in the country. The company is engaged in manufacture and sale of garments. The company has their own national premier menswear brand, Indian Terrain. The company has two subsidiaries, namely Indian Terrain Fashions Ltd and Celebrity Clothing Ltd. The company has two divisions, namely exports and domestic divisions. Exports division is further sub-d ...ivided into Tops and Bottoms division. The Domestic division (brand Indian Terrain) and Bottoms division cater to different markets / products. The company's products include men's or boy's shirts, women's or girl's shirts, men's or boy's shorts / trousers and women's or girl's shorts / trousers. The company set up their first manufacturing facility in Mylapore, Chennai. During the year 1992-93, they set up two manufacturing facility at Velachery and Chrompet in Chennai. During the year 1997-98, the company set up their fourth manufacturing facility at Pallikaranai, Chennai. During the year 1999-2000, the company set up their fifth manufacturing facility at Porur, Chennai. During the year 2000-01, the company launched the Indian Terrain Brand and also inaugurated Indian Terrain's first showroom at Chennai. They created a Design Studio in the Corporate Office, Chennai. The company set up their sixth manufacturing facility at Thiruvencherry, Chennai. Also, they set up of washing plant at Thiruvencherry, Chennai. During the year 2002-03, the company set up their seventh manufacturing facility at Porur, Chennai. During the year 2003-04, they set up separate warehouses, one for trims and packing material and one for fabrics at Narayanapuram, Chennai. In the year 2004, Celebrity Designs (India) Pvt Ltd and Indian Terrain Clothing Pvt Ltd were amalgamated with the company with effect from April 1, 2003. The company took over the manufacturing facility of Celebrity Connections, a partnership firm, with effect from March 31, 2004. During the year 2004-05, the company acquired the manufacturing facilities, land and building of Span Eicher Designs Ltd, Poonamallee, Chennai. During the year 2005-06, the company commenced construction of 1200 machines trouser, an export oriented manufacturing plant with wrinkle free washing plant at the apparel park in SIPCOT, Irungattukottai. In July 2006, the plant started trial production. In January 12, 2006, the equity shares of the company were listed on the National Stock Exchange of India Ltd and the Bombay Stock Exchange Ltd. The company entered into a Business Transfer Agreement with Ambattur Clothing Ltd and acquired their MEPZ-SEZ Bottoms plant with effect from April 1, 2006. During the year 2008-09, the company sold their plant at Irungattukottai, Jwala with effect from April 1, 2008. Also, they reduced their operations base at their MEPZ, Chennai Plant by converting the same into single shift of operations from double shift of operations. In September 2009, the company floated two subsidiaries namely Indian Terrain Fashions Ltd and Celebrity Clothing Ltd. The company let out their property at Chrompet to one of the Hospitals from April 1, 2010 at a rental income of Rs 1.50 crore per annum. Further, the company has proposed to sell/ lease-out another property at Pallikaranai. In September 2010, as per the scheme of arrangement, the Indian Terrain division of the company was transferred to Indian Terrain Fashions Ltd on a going concern basis with effect from April 1, 2010. The year 2016-17, witnessed the successful relocation of partial capacities to a DTA unit from its MEPZ premises. The relocated unit was on Trial run during the Fourth Quarter and commenced commercial production in May 2017.