Suumaya Industries through its 100% fully-owned subsidiary -- Suumaya Retail has acquired a minority stake in the value retail chain startup Nysaa Retail, which operates stores under the brand name 1-India Family Mart.
This investment will enable Suumaya Industries to strengthen its foothold in the women's ethnic wear segment in the smaller towns along with value retailing of men's and kid's wear in BCD towns or rural India, the two companies said in a joint statement today. By gaining access to 100 + retail stores of 1-India Family Mart, this strategic partnership will help Suumaya Industries. Increase its geographical footprint in tier-2, tier-3 and tier-4 towns in India. Besides, Suumaya Industries will also help 1-India Family Mart in developing its own private label in the fast-growing women's apparel category.
Suumaya Industries is engaged in the manufacturing of designer wear of women like Kurtis, ethnic tops, salwar suits etc.
