About Credo Brands Marketing Limited

Credo Brands Marketing Limited is the company behind MUFTI, a Mumbai-born menswear brand established in 1998 by first-generation entrepreneur Kamal Khushlani. The company is engaged in selling fashion casual garments and accessories under the MUFTI brand, with design control in-house and manufacturing outsourced to a network of trusted partners in an asset-light model. MUFTI’s portfolio spans shirts, T‑shirts, jeans, chinos, cargos, sweatshirts, jackets, blazers, sweaters and athleisure, designed for India’s true and smart casual moments of wear.

The brand operates a pan-India multichannel distribution network, reaching customers through exclusive brand outlets (EBOs), large format stores (LFSs), multi-brand outlets (MBOs) and online platforms. As of March 31, 2025, MUFTI’s footprint included 441 EBOs, 100 LFSs and 1,288 MBOs, with reach extending from major metros to Tier‑3 cities. In total, the brand counted over 1,829 retail touchpoints across the country. MUFTI also sells through national chains such as Shoppers Stop and Lifestyle, alongside its own website and leading e-commerce marketplaces.

MUFTI has one subsidiary as at March 31, 2025. Post the balance sheet date, this subsidiary was struck off on April 23, 2025, and dissolved thereafter.

Key Milestones of Credo Brands Marketing Limited

• Launch of MUFTI (1998).
• Investment by Bennett, Coleman & Co. Ltd. (2008).
• Opening the 100th store (2010).
• Selection as “Indian Power Brand” (2011).
• Opening the 200th store and receiving additional national honours (2013).
• Brand reinvention with new logo and opening the 300th store; Retailer of the Year award (2019).
• Listing on BSE and NSE (December 27, 2023).
• Opening the 350th store (2022).
• Opening the 400th store (2024).

Credo Brands Marketing Limited Business Segments 

The company operates mainly in the menswear fashion retail sector through MUFTI. It has a pan-India presence across metros to Tier-3 cities with 441 EBOs, 100 LFSs and 1,288 MBOs. The geographic focus is heavily domestic with no material international markets disclosed.

MUFTI offers a wide range of menswear casual clothing including shirts, T-shirts, denim, chinos, cargos, outerwear and athleisure products. The company follows an asset-light manufacturing model outsourcing production while maintaining in-house design control.

Credo Brands Marketing Limited Key Management

• Kamal Khushlani – Chairman and Managing Director
• Poonam Khushlani – Whole‑Time Director
• Dr. Manoj Nakra – Non‑Executive Director
• Amer Jaleel – Independent Director
• Paresh Bambolkar – Independent Director
• Ramona Jogeshwar – Independent Director
• Rasik Mittal – Chief Financial Officer
• Sanjay Kumar Mutha – Company Secretary

Latest Updates on Credo Brands Marketing Limited

• Network expansion: 35 new stores opened (gross) with 16 net additions in 2024-25, totaling 441 stores spanning 247 cities.
• Digital acceleration: Technology upgrades improved inventory visibility, replenishment, and omnichannel fulfilment; enhanced online discoverability and footfall via targeted campaigns on Google and Meta.
• Product pipeline: 1,400+ new styles developed in 2024-25, reflecting design-led growth and premiumisation strategy.
• Channel performance: Direct-to-Consumer online revenue doubled in 2024-25; MBOs contributed 25% to revenue, offering wide reach with lower capital expenditure.
• Corporate developments: Sole subsidiary struck off and dissolved post balance sheet date; consolidated financials prepared per Ind AS 110.
• Credit ratings: CARE Ratings reaffirmed long-term and short-term bank facility ratings at CARE A+; Stable and CARE A1+ respectively as of March 31, 2025.