Garment Mantra Lifestyle Opened 2 More Stores in Retail arm Twenty Twenty Trading LLP 'Price Mantra'

Garment Mantra Lifestyle Ltd (Erstwhile Junction Fabrics & Apparels Ltd) have added another 2 new stores for Twenty Twenty Trading LLP "Price Mantra" - a unique and niche retail model for mass Indian population Garment Mantra Lifestyle Limited.

The company has also announced about the status of its current business and outlook going forward. Recent restrictions are pushing the economy at a slower pace however GMLL has been witnessing improvement in demand.

Company is expanding business through our retail arm 'Price Mantra'; GMLL are now focusing on developing B2C space on a rapid pace. Recently after lifting of Covid-19 restriction, GMLL have started operations from 2 new locations, one is in Tirupur and another one is in Delhi NCR. Earlier we were operational from 7 Locations and we have added 2 more stores specially for our retail business.

Commenting on the expansion of 2 new Stores, Mr. Prem Aggarwal, Chairman & Managing Director, said "We at Garment Mantra are delighted to update our stakeholders about this strategic plan for our worth Retailing arm - Twenty Twenty Trading LLP "Price Mantra. We've already opened 9 stores and that we endeavor to gradually expand regionally and then elevating to have a national presence, we propose to open 15 more stores in near future to expand our market reach and fulfilling brand aspiration of each Indian. We've already increased our product basket by adding new products like Electronics, Fashion accessories, Home appliances which will enhance our reach and penetration into a customer's wallet. Further to this, we are performing on other model like Exhibition cum sale across India where customers are going to be ready to get branded products at highly competitive prices, which is that the USP of 'Price Mantra'. With the restructuring of the Group structures, we are confident to derive substantial benefits from the recent acquisitions and marked improved performance going forward."

Shares of Garment Mantra Lifestyle Ltd (Erstwhile Junction Fabrics & Apparels Ltd) was last trading in BSE at Rs.105 as compared to the previous close of Rs. 105.25. The total number of shares traded during the day was 13210 in over 78 trades.

The stock hit an intraday high of Rs. 108.95 and intraday low of 105. The net turnover during the day was Rs. 1412530.

Source : Equity Bulls

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