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s.Oliver Group partners Techno Design GmbH for sourcing operations in India
- s.Oliver Group is a German fashion and lifestyle company that sells apparel and accessories, as well as different license products like shoes, jewellery, fragrances, and eyewear. It has a presence in over 40 countries
NEW DELHI: German apparel retailer s.Oliver Group on Wednesday announced a partnership with Techno Design GmbH, part of parent company PDS Multinational Fashions Ltd.
As part of the agreement, Techno Design’s associate company, Technocian Fashions Pvt Ltd, will acquire s.Oliver Group’s sourcing operations S.O.T. Garments India via share purchase agreement. S.O.T Garments is based in Chennai, India.
Technocian Fashions 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 ₹375 crore sourcing opportunity, the companies said in a statement on Wednesday .
“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,” they said.
s.Oliver Group is a German fashion and lifestyle company that sells apparel and accessories, as well as different license products like shoes, jewellery, fragrances, and eyewear. It has a presence in over 40 countries.
"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, PDS.
PDS Multinational Fashions offers product development, sourcing, virtual manufacturing, and distribution for major brands and retailers worldwide. The company operates through 50 offices in 22 countries.
India is an important sourcing destination for s.Oliver Group.
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.
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Business NewsCompaniesNewss.Oliver Group partners Techno Design GmbH for sourcing operations in India
First Published:1 Dec 2021, 03:19 PM IST
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