Oman India Joint Investiment focuses on leather. The investment fund, with the support of India’s national bank and General Reserve of Oman has acquired 26% of Stanley Lifestyles, Bengaluru-based company specialized in the manufacturing of upholstery, furniture and car interiors. With the 24 million USD received (that is the amount paid to acquire the quote), Stanley is planning to expand his presence in its own country by opening new customer stores, as well as increasing its presence in the Middle East and Australia. “This investment is in line with our investment strategy that focuses on India’s main consumers’ businesses – explained to local news outlets OIJIF’s ceo, Srinath S -. Stanley is a well-recognized brand in the furniture and car interior’s industries”. Beside from selling house products with its own brand, Stanley retails products by Z-Boy and Stordal. Additionally, the company is a supplier of Swedish giant Ikea. With regards to the auto market, the company works with car manufacturers such as Toyota, Ford, Mahindra&Mahindra, Renault, and Nissan. The company had 29 million USD in profit in 2017, and the outlook for the current year is above the 41 million USD mark.
