German fashion firm s.Oliver Group has entered into a strategic partnership with Techno Design GmbH (Techno Design), a group company of PDS Multinational Fashions Ltd – a design-led sourcing, manufacturing & supply chain platform catering to leading brands and retailers globally with a presence in over 22 countries. 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 – in India will acquire s.Oliver Group’s sourcing operations in India, S.O.T. Garments India Pvt Ltd, a company based in Chennai, from the s.Oliver Group via share purchase agreement. Technocian Fashions will take over all employees and contracts of S.O.T. Garments India and will exclusively source textiles in India and Sri Lanka for the s.Oliver Group. This partnership has the potential to translate into an annualised Rs 375 crore sourcing opportunity.
“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, PDS, commented, “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.