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s.Oliver Group enters into a strategic partnership with Techno Design GmbH for an exclusive sourcing from India and Sri Lanka



Posted On : 2021-12-01 16:40:52( TIMEZONE : IST )

PDS Multinational Fashions Limited ("the Company", "PDS") is a design-led sourcing, manufacturing & supply chain platform catering to leading brands and retailers globally with a presence in over 22 countries.

s.Oliver Group, one of the largest German fashion companies, has entered into a strategic partnership with Techno Design GmbH ("Techno Design"), a group company of PDS. Through this partnership s.Oliver Group will focus on its core competencies and benefit from the rich raw material availability, skilled personnel and gain from the competitive manufacturing India has to offer. Techno Design's associated company ("Technocian Fashions Private Limited") in India will acquire s.Oliver Group's sourcing operations in India, S.O.T. Garments India Private Limited ("S.O.T. Garments India"), a company based in Chennai, from the s.Oliver Group via share purchase agreement. Techno Design's associated company ("Technocian Fashions Private Limited") will take over all employees and contracts of S.O.T. Garments India and shall exclusively source textiles in India and Sri Lanka for the s.Oliver Group. This partnership has the potential to translate into an annualized c.$50mn (c.₹375cr) sourcing opportunity.

s.Oliver Group is a German fashion and lifestyle company headquartered in Rottendorf that sells apparel and accessories, as well as different license products like shoes, jewelry, fragrances, and eyewear with a presence in 40+ countries, and annual revenue of €1.24 billion (2019). Its brand portfolio includes s.Oliver, with a supported brand awareness of 95% in its target group in Germany, but also Q/S by s.Oliver, comma, Liebeskind Berlin as well as COPENHAGEN STUDIOS.

Techno Design, a key subsidiary of PDS based out of Germany, is operating under the leadership of Mr. Rajive Ranjan, an experienced veteran with over 25 years of experience in the fashion industry. The agreement with s.Oliver Group will further enhance Techno Design's operations in India. Strategic collaborative arrangements like these demonstrate the capabilities of PDS platform to provide end to end solutions to its marquee customers.

"India is one of the key sourcing locations for PDS for serving its customers across the global apparel and fashion industry. PDS continues to further augment its presence in this region. Through this strategic partnership, PDS will further strengthen its existing sourcing from India and leverage the capacities and capabilities of Indian apparel manufacturers to seamlessly service global brands." said Pallak Seth, Vice Chairman, based out of Hong Kong.

Sanjay Jain, Group CEO further added "We work with global retailers and brands. With this acquisition we demonstrate our capabilities to act as exclusive sourcing partner in key geographies for leading global brands/retailers. We believe we could see more such strategic transactions in the future where PDS plays a vital role in the supply chain of retailers and brands across regions."

"We are excited to collaborate with s.Oliver Group and become their exclusive partner for sourcing textiles in India and Sri Lanka. We believe this will be a win-win partnership" said Rajive Ranjan, Managing Director, Techno Design GmbH and Technocian Fashions Private Limited.

"India is an important sourcing destination and through this partnership with Techno Design we truly aim to strengthen our sourcing from India and fully leverage the potential of the market" said Oliver Hein, COO, s.Oliver Group.

Shares of PDS Multinational Fashions Limited was last trading in BSE at Rs. 1420.35 as compared to the previous close of Rs. 1398.95. The total number of shares traded during the day was 1159 in over 276 trades.

The stock hit an intraday high of Rs. 1468.35 and intraday low of 1396.00. The net turnover during the day was Rs. 1643527.00.

Source : Equity Bulls

Keywords

PDSMultinationalFashionsLimited INE111Q01013 PDSMFL sOliverGroup TechnoDesignGmbH Fashion StrategicPartnership