Welspun India to work again with Target Corporation, Retail News, ET Retail

Welspun India on Friday said it will get the job done with US retail giant Concentrate on Company all over again, just about 5 decades immediately after Concentrate on terminated its agreement with the Gujarat-based mostly textiles maker above alleged lapses in labelling and marketing of Egyptian cotton items.

“The enterprise and Concentrate on Company, a retailer with above one,900 outlets in the United states, will be doing the job jointly all over again, acquiring not long ago completed a vendor re-empanelment approach with Welspun World Manufacturers Ltd., firm’s subsidiary,” Welspun India said in a regulatory filing.

Welspun India said until eventually 2015-sixteen, the business with Concentrate on Company accounted for just about 10 for each cent of its general business.

“The enterprise shall attempt to foster a strong, transparent and sustainable business partnership with Concentrate on Company going forward,” the enterprise said.

In 2016, Concentrate on Company experienced terminated its agreement with Gujarat-based mostly Welspun above alleged lapses in its items source.

Shares of Welspun India were trading four.fifty five for each cent greater at Rs 95.35 apiece on BSE.