Brands
KWIL to list on 16 Feb after HUL ice cream demerger
Rs 1800 to 2000 crore business spun off at Rs 10000 to 12000 crore value.
MUMBAI: Hindustan Unilever Ltd has decided it is time to serve its ice cream separately. On February 16, Kwality Walls India Ltd will make its stock market debut, marking the formal listing of HUL’s demerged ice cream business as an independent entity. The move completes a strategic separation that began when HUL turned ex ice cream on December 5 as part of its approved scheme of arrangement.
Under the demerger structure, shareholders received one equity share of KWIL for every one share held in HUL, ensuring proportional ownership in the carved out company. The exercise effectively unlocked the ice cream vertical from HUL’s broader home and personal care portfolio, where it contributed roughly 3 per cent of total revenue.
In absolute terms, the Kwality Walls business was estimated at around Rs 1800 to 2000 crore in annual revenue. However, unlike HUL’s higher margin core categories, the ice cream division operated at low single digit margins, reflecting the capital intensive, cold chain dependent and seasonally volatile nature of the segment in India.
The separation is widely viewed as a strategic realignment. Ice cream runs on a different supply chain logic, distinct distribution demands and sharper seasonal swings compared to soaps, detergents and personal care products. As a standalone entity, KWIL is expected to pursue sharper category specific growth and margin management strategies without being structurally tied to the broader FMCG playbook.
Financially, the demerger triggered a visible stock adjustment. On the ex date, HUL’s share price was marked down by Rs 44 to reflect the value of the spun off business. Market assessments at the time pegged the ice cream arm’s valuation in the range of Rs 10000 to 12000 crore.
The February 16 listing will now test that estimate in real time, as investors assign a market discovered value to KWIL as a pure play ice cream company. For HUL, it marks a cleaner portfolio. For KWIL, it is the first day as a standalone brand on Dalal Street.
Either way, the freezer has been opened and the market is about to take a taste.
Brands
Malaika Arora launches Maejoy accessories brand with Myntra partnership
New label debuts with 250 plus handbags and lab grown diamond jewellery.
MUMBAI: When style meets sparkle, a new brand is ready to take centre stage. Actor and entrepreneur Malaika Arora has launched a lifestyle accessories label called Maejoy, developed in collaboration with Exceed Entertainment and Myntra Jabong India Private Limited (MJIPL), the B2B wholesale arm of Myntra. The brand enters the market with a debut collection of more than 250 styles spanning handbags and lab grown diamond jewellery, two categories that continue to define everyday personal style for modern consumers.
The handbag lineup includes crossbody bags, structured shoulder bags, bucket bags, totes, backpacks, clutches and workwear inspired designs. The pieces are crafted using materials such as synthetic leather, raffia, braids, satin, rhinestones and metallic finishes.
Alongside the bags, Maejoy has introduced a jewellery range featuring lab grown diamond rings, earrings, pendants, bracelets and tennis bracelets. The pieces are set in 925 sterling silver bases with gold, silver and rose gold tones, and include diamonds certified by IGI and GCI.
Positioned as a premium yet accessible accessories label, Maejoy is built around the philosophy “The Joy of Being Me”, aiming to blend aspirational fashion with everyday usability. The brand’s positioning centres on three pillars: authenticity, empowerment and accessibility.
Arora described the venture as a natural extension of her long association with fashion and personal style.
“Maejoy is a labour of love. Throughout my career, whether on screen, in business or through personal style, I have always believed fashion should feel empowering yet effortless. The Joy of Being Me celebrates individuality while making global fashion trends more accessible,” she said.
MJIPL, CXO and head of house of brands Suman Saha said the brand brings together Arora’s style perspective with a strong opportunity in the accessible premium accessories segment.
“Maejoy combines Malaika Arora’s distinctive style sensibility with fashion forward designs that we believe will resonate strongly with consumers looking for elevated yet wearable accessories,” he said.
Exceed Entertainment CEO Afsar Zaidi added that building celebrity led brands requires balancing authenticity with market viability.
“Malaika commands respect both as a fashion icon and a businesswoman. Bringing her creative vision together with Myntra’s brand building expertise creates a strong foundation for Maejoy,” he said.
The collection is available exclusively on Myntra through its website and mobile app, making the brand accessible to millions of shoppers across India as it steps into the competitive lifestyle accessories space.
