Key Points
The initial public offering (IPO) of Credo Brands Marketing was opened for subscription on Tuesday (December 19), and it will remain open for subscription until Thursday (December 21)..
Subscription status on Day 1. The IPO garnered a decent response from investors on the first day, achieving an overall subscription rate of 2.08 times..
The company product mix has evolved significantly over the past several years, from consisting of only shirts, t-shirts, and trousers in 1998 to a wide range of products including sweatshirts, jeans, cargos, chinos, jackets, blazers, and sweaters in relaxed holiday casuals, authentic daily casuals, urban casuals, party wear, and also athleisure categories as of date..
Its products are available through a pan-India multichannel distribution network that it has built over the years, combining its exclusive brand outlets (EBOs"), large format stores ("LFSs"), and multi-brand outlets (MBOs"), as well as online channels comprising its website and other e-commerce marketplaces...
Some of the factors that have accelerated the rise of casualization of mens wear are increasing urbanisation, social media connectivity, the growth and influence of mobile internet, increased buying propensity amongst consumers, and the concept of Friday dressing (casual Fridays) in the corporate world..
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