Madhana Industries sign a deal of exclusivity with Salman Khan’s Being Human Foundation
Mandhana Industries Ltd had earlier announced about the agreement with ‘Being Human – The Salman Khan Foundation’ (“Foundation”) was under negotiations. In this regard, the Company informed that the Agreement has been finalized and the same has been executed with the Mandhana Retail Ventures Limited, the Resulting Company pursuant to the Scheme of Demerger of the Retail business of the Company, as approved by the Hon’ble High Court of Bombay vide its order dated 29th March, 2016 (“MRVL”).
Mandhana Industries in a statement said that its retail business of the company, Mandhana Retail Ventures Limited (MRVL), “is the exclusive licensee to market, distribute and sell the products under the Trade Mark of Brand ‘Being Human'”. Mandhana Industries has demerged its retail business under Mandhana Retail Ventures.
According to a Care Ratings report, Mandhana Industries in 2012 had launched apparels and accessories under ‘Being Human’ brand under license arrangement with Salman Khan’s charitable trust. And Mandhana Industries booked revenues of Rs.172 crore in FY15 from the brand, the report added.