Technocian Fashions to acquire s.Oliver Group’s S.O.T. Garments India via share purchase agreement, Retail News, ET Retail
New Delhi: Techno Design’s associated enterprise, Technocian Fashions, a portion of PDS Multinational Fashions will receive German trend retailer s.Oliver Group’s S.O.T. Garments India by way of share purchase arrangement, the enterprise claimed in a media launch.
Technocian Fashions will also choose in excess of all workers and contracts of S.O.T. Garments India and shall solely resource textiles in India and Sri Lanka for the s.Oliver Group.
According to the launch, this partnership has the prospective to translate into an annualized Rs 375 crore sourcing option.
Through this agreement s.Oliver Team explained to focus on its core competencies and profit from the rich uncooked material availability, experienced personnel and attain from the aggressive manufacturing India has to supply.
“India is a person of the key sourcing locations for PDS for serving its prospects throughout the world-wide apparel and fashion market. PDS continues to even more increase its presence in this location. Through this strategic partnership, PDS will further more fortify its existing sourcing from India and leverage the capacities and capabilities of Indian apparel brands to seamlessly company international models,” claimed Pallak Seth, vice chairman, PDS Multinational Fashions.
PDS Multinational Fashions delivers products growth, sourcing, virtual producing, and distribution for big brand names and stores globally. The business operates through 50 places of work in 22 nations around the world.
“India is an vital sourcing place and through this partnership with Techno Design we truly intention to strengthen our sourcing from India and absolutely leverage the prospective of the sector,” reported Oliver Hein, COO, s.Oliver Team.
s.Oliver Group sells clothing and equipment, as effectively as numerous licence merchandise like footwear, jewelry, fragrances, and eyewear in additional than 40 countries.
