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Siyaram Silk Mills Soars After Launching Cadini Italy Perfumes in India

Siyaram Silk Mills Ltd. has witnessed a great rise in the stock price, which went up by 10.89% to Rs 928.45 after the company declared its new venture into the luxury fragrance market. The company declared launching Cadini Italy Perfumes in India as an expansion of its portfolio under the Italian brand. 

The official launch happened at the iconic Taj Mahal Palace in Mumbai on 12 December 2024. This is a huge move for the company because it extends business from textiles to the premium fragrance arena, where the luxury products in the Indian market are increasingly being searched for. 

The Cadini Italy fragrance range comprises four signature fragrances: Leonardo’s Secret, Italian Renaissance, Roman Affair, and Sicilian Romance. These premium fragrances are available in three sizes – 100ml, 35ml, and 2ml – to provide the best possible choice for any customer. The perfumes will be sold online on the official website of Cadini Italy and its social media sites, making them even more accessible to Indian consumers. 

Siyaram Silk Mills, which produces some of the finest fabrics and apparel, has managed to gain a significant position in India through its diverse products under well-known brands like Siyaram, J. Hampstead, Oxemberg, and Cadini. The company boasts an extensive distribution network, thereby reaching a wide section of Indians with stylish and affordable products. New luxury fragrances by this company indicate an effort by the company to diversify its product lines and meet changing tastes of Indian consumers. 

On the earnings side, Siyaram Silk Mills said Q2 FY 2024 reported a growth of its consolidated net profit of 11.23% at Rs 68.17 crore while that of net sales improved by 3.75% at Rs 607.88 crore compared with the corresponding period of last year. This strong performance, coupled with the launching of Cadini Italy Perfumes, has been able to push the stock price in the company up to a new record-high of Rs 937.85 for December 13, 2024. 

The move into the fragrance industry positions Siyaram Silk Mills to capitalize on the burgeoning demand for premium products in India, signaling the company’s ambitious plans for further growth and market expansion.