1. Ujjain hard luggage ramp-up - The Ujjain plant (2.5 lakh-unit monthly capacity) is EBITDA-positive at 20,000 pieces/month, with PC at 80%+ utilisation and PP production starting; combined output targets \~40,000 pieces/month by October. At 40,000 pieces, plant-level EBITDA would be \~11-13% standalone, and own manufacturing delivers 10-15% EBITDA expansion in a category that is close to 50% of turnover.
2. Tommy Hilfiger license renewal - The exclusive license runs to Dec 2026; a 10-year renewal with royalty terms closed and business plan approved is awaiting only paperwork from the international counterparty. Tommy is \~80% of brand revenue, so a long-term renewal removes the single biggest contract risk and secures the core earnings base.
3. Off-White luxury rollout - First store opened at Mall of Asia, Bengaluru on 9 Apr 2026, Delhi store at DLF Promenade is giving "fabulous" numbers with weekend sales of ₹15 lakh, and a Kolkata location is secured with Bombay Palladium next Q1. Five stores planned in 2-3 years on an import model, adding a high-ASP luxury leg with very high throughput per store.
4. Juicy Couture apparel expansion - The license was extended to a 10+10-year arrangement including apparel, and apparel is moving in-house: 70-75% of the line is targeted for in-house production by Q3 next financial year. Revenue is aiming to cross ₹20-22 crores this year from ₹12 crores last year, with in-house apparel margins replacing fully imported ones.
5. Superdry launch with Reliance - Launched around April 2026 in \~70+ Reliance stores and Shoppers Stop, with luggage moulds arrived and trials underway. Superdry is one of the largest brands in Reliance's portfolio, and the exclusive travel gear and accessories license opens a premium segment with a heavyweight distribution partner.
6. UCB CSD channel scale-up - The CSD channel is in its second full year, expected to end at \~₹40 crores wholesale top line versus ₹26-27 crores last year, with Benetton entering CSD soon. UCB itself grew \~50% YoY in Q3 FY26 and is expected to become a ₹100 crore brand in three years.
7. Manufacturing third-party revenue - The Ujjain plant operates at 1/10 of its 2.5 lakh-piece monthly capacity, and management's view is that captive consumption should not exceed 50% of installed capacity. The largest existing client is the Samsonite group, with talks ongoing with many brands and exports seen as a huge opportunity, turning a cost-saving asset into a revenue generator.
8. Bagline store rationalisation - The consolidation drive is \~75-80% complete, with 8 stores shut in Q1 FY27 and 9 more under notice, while new high-throughput stores open simultaneously. Closing bottom-end stores has limited revenue impact but cuts fixed costs, improving channel profitability as the new 1,000+ sq ft format with multiple brands rolls out.