Sunita Ramnathkar, former promoter of Mumbai-based women’s cosmetics maker, Fem Care Pharma Ltd, said she was shutting her lone retail store for western wear apparel brand, Bar Code, after nearly a decade of operations.
“We took the decision because of opposition from some of our shareholders and also it was not our core business activity. Even after 10 years, we weren’t able to launch our brand nationally,” said Ramnathkarm, who sold a 28 per cent stake in Fem Care last year to Dabur.
Bar Code was launched as a part of Fem Care Pharma in 1999 with an investment of Rs 3 crore. “We will shut our store in the next three-four months,” Ramnathkar added.
The former promoters of Fem Care haven’t decided how to use the funds from the sale of the stake to Dabur. Ramnathkar said the funds were yet to received.
