Image Courtesy: ET Retail
The employee stock ownership plan (ESOP) repurchase has been announced by men’s lifestyle brand XYXX, the company said in a press release. Four years ago, the company launched the ESOP programme, and employees who have served their full term are qualified for buyback. Senior managers, department heads, and executive leadership who have worked for more than seven years are eligible for the ESOP programme.
“Announcing our first-ever ESOP buyback is a proud moment for the leadership team, and especially me. It reaffirms my belief in the collective success of Team XYXX and the pivotal role they have played in our growth story,” said Yogesh Kabra , founder & CEO, XYXX.
XYXX is a mens innerwear brand which has over 22,000 touchpoints. Currently, the brand has seen a growth with a CAGR of 100 per cent.
