s.Oliver Group has entered into a strategic partnership with Techno Design GmbH, a group company of PDS. Through this partnership, s.Oliver Group will focus on its core competencies and benefit from the raw material availability, skilled personnel and gain from the competitive manufacturing India has to offer. Techno Design’s associated company (“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, from the s.Oliver Group via share purchase agreement. Techno Design’s associated company (“Technocian Fashions Private Limited”) 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 Rs375 crore sourcing opportunity.
“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.