Stanley Lifestyles Ltd Company Summary

Stanley Lifestyles Ltd Summary

Stanley Lifestyles Limited was originally formed as a Partnership Firm under the Partnership Act, 1932, in the name of Stanley Seating through a Deed of Partnership dated February 1, 2007. The Company thereafter, incorporated as a Public Limited Company as Stanley Lifestyles Limited upon its conversion from a Partnership Firm vide a fresh Certificate of Incorporation dated October 11, 2007 and a Certificate for Commencement of Business dated December 14, 2007 from the RoC. The Company is engaged in the business of manufacturing and trading of furniture and leather products.The Promoters commenced operations by providing car seat leather upholstery services for leading global automotive brands and subsequently transitioned to retailing luxury furniture in India. By offering luxury leather upholstery, the Company opened retail store in Bengaluru, Karnataka in 2011. Further they transformed into a comprehensive provider of home solutions and are the only super-premium and luxury Indian brand that provide a wide range of home solutions offerings, such as sofas, arm chairs, kitchen cabinets, beds, mattresses and pillows, amongst others.In 2011, the Company opened its first franchisee owned franchisee operated store in Kochi, Kerala; operated store in Bengaluru, Karnataka in 2012 and thereafter, opened in Chennai, Tamil Nadu. In 2018, the Company incorporated a Subsidiary, Shrasta Dcor Private Limited (SDPL) and opened their first operated store in Hyderabad. It opened first store under Stanley Level Next format to offer luxury products in 2019. The Company increased the count to 25 stores in 2021. In 2022, it expanded the network of stores by opening first company owned company operated store in Delhi, which has increased the store count to more than 50 stores in 2023.The Company launched an IPO by issuing 14,553,508 Equity Shares having the face value of Rs 2 each, by raising funds aggregating to Rs 537 Crore, comprising a fresh issue of 5,420,054 Equity Shares aggregating to Rs 200 Crore and 9133454 equity shares aggregating to Rs 337 Crore through offer for sale in June, 2024.