Dixcy, Enamor merged to create Modenik Lifestyle

Teaming up

- Modenik Lifestyle will be headquartered in Bengaluru

- Dixcy offers strong distribution network

- Enamor's strength in style & product design

- Merger ensures value for all stakeholders

- Under one company, it will be in a position to serve in both men's and women's categories of essential clothing

Hyderabad: Advent International, a global private equity firm, announced completion of merger of its portfolio companies Dixcy Textiles and Gokaldas Intimatewear, the parent company of brand Enamor. The new merged entity, Modenik Lifestyle, will be headquartered in Bengaluru, the company said in a press release.

Sunil Sethi, executive chairman of Modenik Lifestyle said, "The merger creates a broad and complementary product portfolio of fashionable essential clothing for all ages, income-classes and genders and opens up expansion into attractive growth adjacencies."

The merger of Dixcy with its strong distribution network, and Enamor with its strengths in style and product design, expects to accrue value for all stakeholders including consumers, employees, shareholders and partners, the release added.

Modenik will have a portfolio of five sub-brands, including Dixcy Scott Originals, Dixcy Scott Maximus, Josh by Dixcy Scott, Slimz and Enamor. Under one company, it is now in a position to serve the consumer needs in both men's and women's categories of essential clothing, across the value chain i.e. economy, mainstream and premium segments. Modeniks's omni channel distribution strategy expects to ensure that its products are available wherever the consumers buy – offline or online. It also has an exclusive licensing agreement with Levi's innerwear to manufacture and distribute in India.

Sunil Sethi, who was executive chairman of both the companies, continues in this position. Shekhar Tiwari, previously the CEO of Enamor, takes on the role of Chief Category and Operations Officer of the merged company. Modenik brings together creative professionals of both Dixcy and Enamor and now boasts a combined strength of 5,000, that includes 1,600 employees and 3,400 labour staff across its manufacturing operations in Tirupur, Kolkata, Bengaluru and Ludhiana.

Modenik Lifestyle is 100 per cent owned by Advent International. Sahil Dalal, managing director at Advent International said: "We believe this merger will accelerate the momentum that was already underway by uniting the two companies for greater scale and financial strength to lead the industry." "Our immediate focus is to expand business into new geographies, product and packaging innovation, strengthen and expand distribution, both online and offline," Sethi added.