On December 1, 2022, 100% shareholding of Cravatex was the sale of its Cravatex Brands, a material subsidiary to Metro Brands.

The company is a brand licensing, distribution and sourcing company with and global retail presence. Its model combines spotting opportunities, delivering high-quality customer service, developing the best product and providing commercially sound marketing strategies.

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 The company’s net loss was reported at Rs 19.18 crore in the second quarter of FY23, compared to a net loss of Rs 6.04 crore in the second quarter of FY22. Net sales hit a high at 8.73% yearly to Rs 170.42 crore in the second quarter of FY23. On December 2 2022, Cravatex’s shares hit a high of 0.18% to Rs 411.80.