Top fashion companies are embarking on unexpected experiments reshaping the industry landscape. Moving beyond traditional trends, these brands are pioneering new approaches to sustainability, inclusivity, and technology integration. By challenging conventional norms and embracing innovation, they are enhancing their creative prowess and addressing pressing global issues.
When it comes to entrepreneurial success stories, the dynamic duo of Sangeetha and Prabhat Sethia stands out. This power couple has not only revolutionized the fashion industry with their brand Filatex Fashion Ltd. but is also poised to make waves in the mining sector.
Who is Prabhat Sethia?
Prabhat Sethia, the Managing Director of Filatex Fashion Ltd., hails from a renowned business family in Kolkata. With a commerce degree in hand and a vision for innovation, Prabhat founded Filatex Fashion Ltd. in 1997. Shifting base to Hyderabad, he meticulously guided the company’s growth strategy, ensuring it stayed ahead of the curve in terms of technology and quality. Under his leadership, Filatex Fashion has become a prominent name in socks manufacturing, known for utilizing state-of-the-art Italian, Korean, and Chinese technologies.
Who is Sangeetha Sethia?
On the operational front, Sangeetha Sethia has been a force to reckon with. Heading the production, planning, and operations at Filatex Fashion Limited, Sangeetha’s astute business knowledge has been instrumental in shaping the company’s growth story. It was under her dynamic leadership that Filatex Fashion launched its latest brands, Tuscanny and Smartman. Tuscanny is known for its luxury socks, crafted with high-quality yarns and featuring trendy designs, while Smartman caters to business and casual wear with unparalleled comfort.
Filatex Fashion’s Foray Into Mining
In a bold and unexpected move, Filatex Fashion Ltd. has expanded its horizons beyond the fashion industry. Their mining subsidiary, Filatex Mines and Minerals Private Ltd., has received an export order worth USD 35 million (Rs 293 crore) for supplying 2,97,388 metric tonnes of white marble over seven years.
The company’s board approved a 5-for-1 stock split, with August 9 set as the record date. This move, ratified in the extraordinary general meeting (EGM), increases the authorized share capital to Rs 850 crore.
The company’s shares were listed and admitted for dealings on the National Stock Exchange as of May 6, 2024, enhancing its market presence and credibility. Financially, Filatex Fashion posted a net profit of Rs. 8.95 crore and a total income of Rs. 179.02 crore for the fiscal year 2023-24, reflecting its robust performance.
