PDS Multinational Fashions jumps 6.75 per cent. Here’s why?
The agreement with s.Oliver Group will further enhance Techno Design’s operations in India. Strategic collaborative arrangements like these demonstrate the capabilities of the PDS platform to provide end to end solutions to its marquee customers.
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 Multinational Fashions. Techno Design’s associated company (i.e. Technocian Fashions Private Limited) in India will acquire s.Oliver Group’s sourcing operations in India, S.O.T. Garments India Private Limited, a company based in Chennai, via share purchase agreement. Techno Design’s associated company 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.
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, jewellery, fragrances, and eyewear with a presence in 40 plus countries, and annual revenue of Euro 1.24 billion (in 2019). Its brand portfolio includes s.Oliver, with supported brand awareness of 95 per cent in its target group in Germany, but also Q/S by s.Oliver, comma, Liebeskind Berlin as well as COPENHAGEN STUDIOS.
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. This partnership has the potential to translate into an annualized USD 50 million (i.e. Rs 375 crore) sourcing opportunity. The agreement with s.Oliver Group will further enhance Techno Design’s operations in India. Strategic collaborative arrangements like these demonstrate the capabilities of the PDS platform to provide end to end solutions to its marquee customers.
To quote Sanjay Jain, Group CEO, PDS Multinational Fashions from a filing with the exchange, “We work with global retailers and brands. With this acquisition, we demonstrate our capabilities to act as an 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.”
PDS Multinational Fashions Limited operates an integrated design-led platform offering product development, sourcing, virtual manufacturing, and distribution for major brands and retailers worldwide. The company operates a vast global network covering 50 offices, 22 countries, and over 3,000 employees and 5,000 associates and factory workers worldwide.
Shares of PDS Multinational Fashions rallied 6.75 per cent to close at Rs 1,513 on NSE on December 1, 2021 (Wednesday). The scrip touched recorded an intraday high of Rs 1,519.85 per share.
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