Brands
Lux Industries Q3 profit slips to Rs 13.3 crore amid labour code costs
Board also names Prathistha Dobhal as senior management personnel
KOLKATA: Lux Industries Limited said its December-quarter earnings were weighed down by regulatory costs, even as revenues held up across key brands, management told analysts during the earnings call.
The company’s board, which met on February 14, approved unaudited standalone and consolidated results for the quarter and nine months ended December 31, 2025. Standalone total income for the third quarter stood at Rs 679.02 crore, down from Rs 784.08 crore in the preceding quarter. Profit before tax came in at Rs 19.72 crore, while net profit was Rs 13.32 crore, translating into a basic earnings per share of Rs 4.43.
Management attributed the softer quarterly performance to exceptional items worth Rs 6.11 crore. These included an incremental Rs 2.76 crore impact linked to past service costs following the notification of India’s four labour codes, alongside an exceptional income of Rs 3.35 crore from the settlement of entry tax disputes under West Bengal’s Settlement of Dispute Act, 2025.
For the nine months ended December, consolidated total income reached Rs 2,076.52 crore, with profit before tax of Rs 80.86 crore and net profit of Rs 58.82 crore. Total comprehensive income attributable to shareholders stood at Rs 117.22 crore, reflecting steadier performance over the longer period despite quarterly volatility.
Segmentally, the innerwear major’s flagship portfolio: Lux Cozi, Onn and Lux Cotts’ wool, remained the largest contributor, clocking quarterly revenue of Rs 322.67 crore. Brands such as Lux Nitro and Lyra lifted nine-month revenues in the second vertical to Rs 879 crore, while the mass-market GenX and Lux Classic labels posted quarterly revenue of Rs 55.25 crore.
The company noted that certain assets and liabilities remain unallocated across verticals pending an internal review, a factor that continues to blur segment-level profitability.
Separately, the board designated Prathistha Dobhal, currently manager–legal for vertical A, as a senior management personnel with effect from 14 February, 2026, following a recommendation by the nomination and remuneration committee.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
