Image Pakistan Limited, one of the country’s leading fashion houses, is exploring the potential acquisition of Elegantes London (Holdings) Limited, a Harrods-listed luxury fragrance brand, in line with its plan to enter the fragrance business.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.
“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,” read the notice.
Image Pakistan shared that it already has plans to enter the fragrance business soon, without divulging a time frame, and will also be considering the acquisition of Elegantes London through its wholly-owned subsidiary, Image International Limited, which is incorporated in England and Wales.
Image Pakistan Limited was incorporated in Pakistan as a public limited company in 1990.
The company was formerly known as Tri-Star Polyester Limited and changed its name in 2021. The company is engaged in the manufacturing and sale of embroidered fabric, polyester filament yarn, and ready-to-wear garments.
Meanwhile, Elegantes London, based in London, operates in the wholesale perfume and cosmetics sector.
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