SP Apparels acquires Young Brand, unveils bold growth strategies
SP Apparels is strategically broadening its market presence by acquiring Young Brand Apparels, a subsidiary of Bannari Amman Spinning Mills. Young Brand Apparels, a joint venture between Jacob Industries, Mexico’s Intimark, and Bannari Amman Spinning Mills, specializes in intimate wear brands and holds a substantial customer base in the US.
Spread over 26-acres, the company operates a 280,000 sq ft factory in Chennai’s outskirts, equipped with a state-of-the-art manufacturing facility featuring an air-conditioned production floor. As part of its growth strategy, SP Apparels plans to assume the leasehold rights of a garment unit in Palladam from Bannari Amman Spinning Mills. The company aims to acquire a 43-acre property in SIPCOT, Perundurai.
In line with its expansion initiatives, SP Apparels is placing significant emphasis on enhancing employee performance through the introduction of an Employee Stock Ownership Plan (ESOP scheme).
