Home Latest-News s.Oliver Group enters into a strategic partnership with Techno Design GmbH for an exclusive sourcing from India and Sri Lanka

s.Oliver Group enters into a strategic partnership with Techno Design GmbH for an exclusive sourcing from India and Sri Lanka

by smruti Bhalerao

1st Dec 2021: PDS Multinational Fashions Limited (“the Company”, “PDS”) is a design-led sourcing, manufacturing & supply chain platform catering to leading brands and retailers globally with a presence in over 22 countries.

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. 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 Private Limited”) in India will acquire s.Oliver Group’s sourcing operations in India, S.O.T. Garments India Private Limited (“S.O.T. Garments India”), 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 c.$50mn (c.₹375cr) sourcing opportunity.

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, jewelry, fragrances, and eyewear with a presence in 40+ countries, and annual revenue of €1.24 billion (2019). Its brand portfolio includes s.Oliver, with a supported brand awareness of 95% in its target group in Germany, but also Q/S by s.Oliver, comma, Liebeskind Berlin as well as COPENHAGEN STUDIOS.

Techno Design, a key subsidiary of PDS based out of Germany, is operating under the leadership of Mr. Rajive Ranjan, an experienced veteran with over 25 years of experience in the fashion industry. The agreement with s.Oliver Group will further enhance Techno Design’s operations in India. Strategic collaborative arrangements like these demonstrate the capabilities of PDS platform to provide end to end solutions to its marquee customers.
“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 further added “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.

About PDS Multinational Fashions Ltd: (www.pdsmultinational.com)

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 & factory workers worldwide.

The Company reported consolidated revenues of ₹6,213cr ($837mn) in fiscal 2020-21, an increase of 1.3x over the last five years. Further, Profit after tax has increased at a 5-year CAGR of 40%. In the first half of fiscal 2021-22, the Company reported ₹3,821cr ($517mn) topline, 35% growth and a profit after tax of ₹126cr ($17mn), growth of 519% compared to last year, with a ROCE of 30% in H1FY22. Notwithstanding the business disruptions caused due to COVID pandemic, the Company is taking steps to minimize the impact and ensuring the safety and well-being of its employees, business partners, and communities.

The Company is listed on the BSE Ltd. (538730) and the National Stock Exchange of India Ltd (PDSMFL).

Certain statements that are made in the Press Release may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, inflation, litigation, etc. Actual results might differ substantially from those expressed or implied. PDS Multinational Fashions Ltd. will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

This news was shared to Prittle Prattle News via press release.

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