Shares of FSN E-Commerce Ventures, the parent of the cosmetics-to-fashion retailer, jumped 4.8% on Thursday, a day after it said its fashion segment was in the men’s innerwear and athleisure category with a new brand. is expanding.
The TPG-backed company on Wednesday said Nykaa Fashion will launch its first ever innerwear and athleisure brand for men, Glute.
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The line, starting at Rs 499 ($6.32) for innerwear, will see ethical manufacturing, subscription options and in some cases trials, is available for sale on its app and website.
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As of 0429 GMT, shares of FSN were up 4.41% at Rs 1,464.80.
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Nykaa made a strong market debut in November 2021, giving the nation’s first female-led unicorn a valuation of nearly $14 billion, and taking the top spot among food delivery startups.
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Ltd.’s $13.28 billion opening in July 2021.
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