For exclusive sourcing from India and Sri Lanka, the s.Oliver Group has teamed up with PDS' Techno Design GmbH
01 December 2021, Mumbai:
The s.Oliver Group, one of Germany's major fashion conglomerates, has formed a strategic relationship with Techno Design GmbH ("Techno Design"), a PDS Multinational Fashions Limited group business.
With a presence in over 22 countries, PDS is a design-led sourcing, manufacturing, and supply chain platform that caters to major brands and retailers throughout the world.
Through this agreement, the s.Oliver Group will be able to focus on its core capabilities while making use of India's abundant raw material supply, qualified workforce, and competitive manufacturing. S.O.T.
Garments India Private Limited ("S.O.T. Garments India"), a firm situated in Chennai, will be acquired by Techno Design's linked company in India through a share purchase agreement with the s.Oliver Group. S.O.T.
Garments India's personnel and contracts will be taken over by Techno Design's affiliated firm, which will solely source textiles in India and Sri Lanka for the s.Oliver Group. This alliance has the potential to provide a sourcing opportunity worth c.$50 million (about Rs. 375 crores) on an annual basis.
With a presence in 40+ countries and annual sales of €1.24 billion, the s.Oliver Group is a German fashion and lifestyle brand located in Rottendorf that offers garments and accessories, as well as diverse licensing items including shoes, jewelry, perfumes, and eyewear (2019).
Its brand portfolio includes s.Oliver, which has a 95 percent supported brand recognition in Germany, as well as Q/S by s.Oliver, comma, Liebeskind Berlin, and COPENHAGEN STUDIOS. Rajive Ranjan, an experienced veteran with over 25 years of experience in the fashion business, is in charge of Techno Design.
Techno Design's activities in India would be bolstered by the deal with s.Oliver Group. This kind of strategic collaboration highlight the PDS platform's ability to offer end-to-end solutions to its marquee customers.
"One of PDS's primary sourcing areas for providing its customers in the worldwide garment and fashion sector in India. PDS is continuing to expand its footprint in this area. PDS Group Vice Chairman Pallak Seth said, "Through this strategic alliance, PDS will expand its current sourcing from India and harness the skills and talents of Indian textile producers to effortlessly service global brands."
"We're thrilled to be working with the s.Oliver Group is their official textile sourcing partner in India and Sri Lanka. Rajive Ranjan, MD of Techno Design GmbH and Technocian Fashions Private Limited, stated, "We feel this would be a win-win cooperation."
"India is an important sourcing destination, and by partnering with Techno Design, we hope to enhance our sourcing from India and fully realize the market's potential," stated Oliver Hein, COO of the s.Oliver Group.
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.
DAILY NEWS:
- Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul
- Consumers will determine growth of sustainable fashion e-comm in India
- Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
- Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
- Nike strengthens retail presences with new store at DLF Mall of India,Noida
