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Mufti (company)

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Not to be confused with Mufti (dress).
Credo Brands Marketing Limited
Mufti
Company typePublic
IndustryApparel, footwear, men, fashion, denim
Founded1998 (1998)
FounderKamal Khushlani
HeadquartersMumbai, India
Number of locations
1,400 outlets, 120 stores
ProductsClothing, Footwear
BrandsMufti Jeans, Mufti Footwear
Websitewww.muftijeans.in

Mufti is a men's clothing fashion brand, based in India and founded by Kamal Khushlani in 1998.[1][2] It manufactures shirts, jeans, t-shirts, sweatshirts, sweaters, joggers, blazers and jackets.[3] It is owned and managed by Credo Brands Marketing Limited.[4] It owns 1,400 multi brand outlets and 120 large format stores.[5][6]

History

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The company was started with a ₹10,000 loan from Khushlani's maternal aunt. In 2014, Bennett, Coleman & Co. Ltd. and some of Khushlani's friends owned a 35 per cent stake and Khushlani holds a 65 per cent stake in the company.[7][8][9]

Mufti expanded into the footwear in December 2018.[10] In 2018, the brand announced it will be expanding its product portfolio by focusing on athleisure clothing and accessories.[11][needs update] In July 2018, Mufti signed Kartik Aaryan as a brand ambassador.[12][13]

In February 2019, Mufti was recognized as a "Retailer of the Year" award at Global Awards for Retail Excellence organised by ET Now and Asia Retail Congress[14] and won CMAI's Brand of the Year Award in 2015.[15]

Awards

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Year Award(s) Awarding organisation Result Ref.
2012 Retail Icon of India Asia Retail Congress Won [16]
2015 Brand of the Year in Men's Casual Wear at APEX awards Clothing Manufacturers Association of India Won [15]
2019 Customer Loyalty Initiative of the Year Award Indian Retail Awards Won [17]
2019 Retailer of the Year ET Now, Asia Retail Congress, Global Brand Excellence Awards Won [14]

References

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  1. ^ Sachdeva, Sujata (11 March 2014). "With 15 percent growth Mufti plans an accessory line". Fashionunited.in.
  2. ^ "Mufti to launch women's jeans, plans IPO". Fashionunited.in. 16 February 2010.
  3. ^ Law, Abhishek (8 November 2018). "Denim and casual-wear brand Mufti plans to ramp up its product portfolio". Thehindubusinessline.com.
  4. ^ Chaudhary, Deepti; Agarwal, Sapna (5 May 2014). "Carlyle to invest up to '250 crore in Mufti". Livemint.com.
  5. ^ Sinha, Partha; Kurian, Boby (26 May 2017). "Valued at Rs 750 crore - ChrysCapital set to buy Mufti in Rs 500 crore deal". Economictimes.indiatimes.com.
  6. ^ "Mufti's Goals: To be a global brand with Indian roots". fashionunited.in. 23 May 2012.
  7. ^ Chaudhary, Deepti; Agarwal, Sapna (12 October 2013). "Investors in Credo Brands in talks with firms as they seek exit". livemint.com.
  8. ^ Balakrishnan, Reghu (26 May 2017). "ChrysCapital close to buying Mufti denims brand for Rs460-500 crore". Livemint.com.
  9. ^ Roy, Debjyoti (26 September 2016). "Mufti brand's promoter eyes stake sale, hires I-banker". Vccircle.com.
  10. ^ "Mufti to expand footwear retail to 500 stores". Exchange4media.com. 10 December 2018.
  11. ^ Law, Abhishek (8 November 2018). "Denim and casual-wear brand Mufti plans to ramp up its product portfolio". The Hindu Business Line. Retrieved 6 February 2020.
  12. ^ "Kartik Aaryan becomes brand ambassador of 'Mufti'". uniindia.com. 7 April 2018.
  13. ^ "Kartik Aaryan unveiled MUFTI's Autumn Winter '18 Collection". Adgully.com. 10 January 2018.
  14. ^ a b "MUFTI bags 'Retailer of the Year' award at Global Awards for Retail Excellence". Indiantelevision.com. 15 February 2019.
  15. ^ a b "CMAI's Apex Awards 2015 for Indian apparel industry announced". Apparelresources.com. 11 April 2015.
  16. ^ "Alternative clothing". Mostadmiredasia.com. Retrieved 7 March 2019.
  17. ^ "Mufti bags Customer Loyalty Initiative award". Mediainfoline.com. 16 May 2019.
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