Vashishtha Luxury Fashion Limited (BSE: VASHISHTHA, Scrip Code: 544508) has announced a collaboration with Bequin, an India-based materials initiative, marking a step towards sustainable luxury fashion. This partnership, disclosed in a recent regulatory filing, underscores Vashishtha's commitment to environmentally responsible practices in the high-end fashion industry.

Sustainable Innovation in Luxury Fashion

The collaboration focuses on integrating Bequin's bio-based sequin alternatives into Vashishtha's hand embroidery processes. These next-generation materials offer several advantages over conventional sequins:

• Biodegradability: Replacing petroleum-based imported embellishments
• Customization: Full customization in thickness, finish, and color
• Enhanced Features: Natural lustre and 3D relief capability
• Local Production: Reducing supply-chain emissions

Strategic Partnerships and Showcase

Vashishtha's involvement in this eco-friendly initiative extends beyond material adoption:

1. New Landscapes India Catalyst R&D Programme: Vashishtha served as Bequin's embroidery partner for application testing and real-world trials, supported by the University of the Arts London and the British Council.

2. GANNI Collaboration: As part of Bequin's partnership with GANNI under the Fabrics of the Future Initiative, Vashishtha played a role in developing embroideries for GANNI's Fall/Winter collection.

3. Paris Fashion Week Showcase: The collaboration's results were featured at Paris Fashion Week, highlighting the merger of sustainable biomaterials with couture craftsmanship.

Commitment to Sustainability

Vashishtha Luxury Fashion is integrating sustainability across its design-to-delivery ecosystem:

• Sourcing OEKO-TEX® certified threads
• Using recycled-PET sequins
• Incorporating vegan leathers and organically cultivated silks and cottons
• Optimizing sampling and production workflows to reduce waste and carbon footprint

Industry Implications

This collaboration represents a shift in the luxury fashion industry towards more sustainable practices. By combining traditional artisanal techniques with innovative, eco-friendly materials, Vashishtha aims to set a new standard for environmentally conscious high-end fashion.

The company invites brands and design houses to engage in bespoke development runs, technical trials, and sustainable embroidery projects, aiming to unite craft excellence with environmental benefits.

As the fashion industry evolves, partnerships like this between Vashishtha Luxury Fashion and Bequin may play a role in shaping the future of sustainable luxury.

Vashishtha Luxury Fashion Limited (VLFL) has announced the resignation of Kumbhat Co. LLP as the statutory auditor for its material subsidiary, Vashishtha Embroideries Private Limited. The resignation, effective November 5, 2025, comes amid a disagreement over audit fees for the upcoming financial year.

Key Details of the Resignation

Circumstances Leading to Resignation

Kumbhat Co. LLP cited their inability to undertake the audit at a reduced fee as the primary reason for their resignation. The auditing firm stated that the company had requested a reduction in fees for the statutory audit of financial statements for the year ending March 31, 2026.

In their resignation letter, Kumbhat Co. LLP explained:

"We have reassessed our ability to continue as auditor in terms of Standards on Auditing and Standards on Quality Control issued by the Institute of Chartered Accountants of India basis which we would not be able to undertake the audit at the reduced fee considering our estimate of time and effort involved."

Implications and Next Steps

The resignation of the statutory auditor for a material subsidiary may raise questions among investors and regulatory bodies. It's worth noting that the auditor's resignation comes just before the company's scheduled board meeting on November 14, 2025, where the unaudited financial results for the half-year ended September 30, 2025, are to be considered and approved.

VLFL will now need to appoint a new statutory auditor for its material subsidiary. The company's board and audit committee will likely address this issue promptly to ensure compliance with regulatory requirements and maintain transparency with stakeholders.

This development underscores the importance of maintaining strong relationships between companies and their auditors, as well as the need for transparent communication regarding financial matters. Investors and market watchers will be keen to see how VLFL handles this transition and what impact, if any, it may have on the company's financial reporting process.