NiharInfo Global to launch new private label brands
Nihar Info Global Limited, a leading e-commerce company in India,on Thursday said its Board of Directors approved the company’s proposals to launch three private label brands.
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Hyderabad: Nihar Info Global Limited, a leading e-commerce company in India,on Thursday said its Board of Directors approved the company's proposals to launch three private label brands. The BSE-listed company from the city also registered substantial rise in its turnover for the quarter ended December 31, 2021. Under its plans to roll out three private label brands, the company will launch private label brand for gold and silver bullion products. It will roll out various denominations of gold and silver coins and sell them on e-commerce portals.
Its subsidiary company, Life 108 Healthcare Private Limited wouldbe soon launching its own range of healthcare and fitness products which will be available on own e-commerce platform Life108.store and other portals. The company's third private label will focus on home, kitchen, lifestyle and electronic products. This will have 150 SKUs by March this year.
According to a statement issued by Divyesh Nihar Boda, MD, Nihar Info Global, the company registered a substantial upswing its revenues from Rs1.99 crore in September quarter to Rs3.26 crore in the quarter ended December 31, 2021. Further, the company took substantial stake in its subsidiary companies with 99 per cent of the equity inNihar Renewable Energy Private Limited and99 per cent of the equity in Nihar Mining Private Limited.
The remaining stake in these two subsidiaries will be held by BSN Suryanarayana and Divyesh Nihar Boda. In Life 108 Healthcare, while 51 per centis held by the company, remaining 49 per cent is with Divyesh Nihar Boda.
