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Stationery retailer DOMS Industries has acquired 51 per cent of stake in Skido Industries with an initial investment of Rs 51 lakh, marking its entrance into school bag manufacturing, it said in a press release on Thursday.
The remaining stake of Skido remains with Sehgals.
“This investment aligns seamlessly with our vision, leveraging our distribution network and brand reputation to deliver high-quality products, supported by the expertise of the Sehgal Family,” said Santosh Raveshia, managing director, DOMS.
With this acquisition, Skido is planning to hold DOMS’ brand equity and distribution prowess to accelerate growth in the school bags segment, read the release.
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