Madura Garments, part of the AV Birla Nuvo Group, has split its business into four independent units: namely, Peter England, Madura Garments, MLS and Exports. Peter England has been hived off into a separate company.
However, no comment was forthcoming from Madura Garments. A spokesperson said that an announcement on this front would be made soon.
The erstwhile Madura Garments will manage the four strategic business units, Louis Philippe, Van Heusen, Allen Solly, and Retail (Planet Retail, Trouser Town). MLS is a new venture being set up to launch large-format stores (20,000 square feet +) for international brands. The exports division will also function independently.
All these units will be managed by a dedicated team to be headed by CEOs and not by brand directors, like in the past. George Santacruz, who was the former president of Tommy Hilfiger in the Bahamas, will head the MLS unit. Expatriate CEO Zeena Freeman and Alok Malik will manage the Peter England Fashions and Retail unit. Partho P Kar heads the existing export business unit. Ashish Dikshit will head Madura Garments Lifestyle Brands division, including Planet Fashion and Trouser Town stores.
In financial year 2007, Madura Garment is expecting to generate revenue of about Rs 600-650 crore, and has grown at the rate of 20 per cent in recent years.
– Vishnu Rageev R, Bengaluru Bureau