Thomas Scott (India) Limited held its 16th Annual General Meeting (AGM) on September 29, 2026, via Video Conferencing. The meeting focused on the adoption of financial statements for the fiscal year ended March 31, 2026, and key governance appointments.

The proceedings were conducted through a virtual platform provided by NSDL on Zoom, starting at 1:00 pm. Mr. Vedant Bang, Managing Director (E-commerce), occupied the chair. The quorum was confirmed with 48 members attending via video conference, comprising 26 from the promoter group and 22 from the public category.

Key resolutions passed

Shareholders deliberated on several agenda items, including the reappointment of directors and approval of related party transactions. The specific resolutions considered were:

Meeting attendance and voting

The Company Secretary reported that thirteen shareholders had registered as speakers for the meeting. However, none of these registered speakers were present during the session to raise queries. Remote e-voting commenced on September 25, 2026, and concluded on September 28, 2026. Members present online who had not previously voted were given an additional 15 minutes to cast their votes during the meeting.

Mrs. Sonam Jain, Practicing Company Secretary, served as the Scrutinizer for the e-voting process. The results of the remote e-voting and the e-voting conducted during the AGM are scheduled to be declared within two working days from the conclusion of the meeting.

Thomas Scott has entered into a licensing agreement and a global designated supplier agreement with F21 IPCO LLC, a unit of Authentic Brands Group, for the Forever 21 brand. The deal grants exclusive rights across India, Nepal, and Bangladesh.

Agreement details

The agreements cover the Forever 21 brand across three markets: India, Nepal, and Bangladesh. The dual arrangement comprises a licensing agreement alongside a global designated supplier agreement, both executed with F21 IPCO LLC, which operates as a unit of Authentic Brands Group. The initial term is 5 years, with an option to extend for another 5 years.

Scope of the partnership

The agreements position Thomas Scott as a licensed partner and designated global supplier for the Forever 21 brand within the specified territories. As the exclusive licensee, the company will lead product design, development, manufacturing, distribution, retail, and e-commerce operations for the brand in these markets.

Additionally, the appointment as a Global Designated Supplier enables Thomas Scott to manufacture Forever 21 products for the brand's international partner network outside the licensed territory. This leverages the company's in-house manufacturing capabilities as an additional B2B supply stream.

Strategic context and financials

This partnership reflects Thomas Scott's growing capabilities in building and scaling fashion brands. The company currently manages a portfolio of 50,000+ SKUs across 15+ brands, supported by four manufacturing facilities and four fulfilment centres. The company recorded consolidated revenue of ₹254.9 crore in FY26, registering a 58.3% year-on-year growth.

Authentic Brands Group is the parent entity of F21 IPCO LLC and holds the intellectual property rights associated with the Forever 21 brand globally. Authentic operates through a network of more than 1,700 licensees and strategic partners across 150 countries, driving more than $38 billion in annual system-wide sales worldwide.