Doms Industries, a stationary firm has expanded its product category with the acquisition of a 51 percent stake in bags manufacturer Skido Industries.

The board of directors of Doms approved the acquisition with an initial investment of Rs 51 lacs ($61,096) giving it entry into the manufacturing and retailing of bags, including school bags, pouches, and related items.

With this acquisition, Doms Industries aims to widen its market reach and enhance consumer engagement.

Commenting on the acquisition, Santosh Raveshia, managing director at Doms in a statement said, “Expanding our product range to better cater to the needs of children and young adults has been a priority for Doms. This investment aligns seamlessly with our vision, leveraging our distribution network and brand reputation to deliver high-quality products, supported by the expertise of the Sehgal Family.”

Pranay Sehgal, director of Skido added, “Collaborating with Doms presents an exciting opportunity for us to leverage their industry-leading position and expand our product offerings. Doms brand recognition and expansive distribution network will be instrumental in realising our full potential.”

Doms Industries retails its products through retailers and e-commerce marketplaces across India.