Autofurnish Ltd Signs MOU to Establish New Subsidiary

Autofurnish Limited has executed a Memorandum of Understanding (MoU) with 3003BC Lifestyle Private Limited to jointly establish a new subsidiary, Wagenlov Private Limited. This subsidiary will focus on developing, marketing, selling, and eventually manufacturing Wagenlov-branded automotive fragrance and car-care products in India. Autofurnish will hold a 50.5% stake, making Wagenlov a subsidiary upon incorporation. The venture aims to expand Autofurnish's presence in the automotive fragrance and car-care market, with phased manufacturing plans involving both partners.