Home / Knowledge / News / Apparel/Garments / Calzedonia to invest €20mn in Serbia & create 1000 new jobs
Calzedonia to invest €20mn in Serbia & create 1000 new jobs
30
Nov '11
Minister of Economy and Regional Development Nebojsa Ciric, Calzedonia's director of investment Francesco Ruffoli and Subotica Mayor Sasa Vucinic signed an agreement on Calzedonia's new investment in Subotica worth €20 million which will create 1,000 new jobs by 2014.

The new factory in Subotica will spread on 18,000 square metres.

The city of Subotica will provide land free of charge in the industrial zone of Mali Bajmok.

Ciric said that this investment is another proof that Serbia is leader in the region in attracting foreign investment his year, adding that the goal of Serbia is to attract investments for export production.

Attracting foreign investment, combined with concrete government measures, is the best way to deal with the global economic crisis, he said.

The investment in Subotica is another in a series of new investments in Serbia in a time when factories are shutting down and workers are being laid off in developed countries, he observed.

The Minister said that with foreign investments we can change the negative trend in Serbia of the past two or three years and move towards a reduction in the unemployment rate.

Ciric explained that Calzedonia already has one factory in Sombor, in which more than €20 million has been invested. It employs around 700 people and plans to take on at least 200–300 more workers.

Ruffoli stated that Calzedonia intends to expand production in Serbia and Croatia, adding that it is difficult to achieve investment conditions in Italy to open factories such as the ones in Sombor and Subotica.

Calzedonia has been doing business in Serbia under the name of Fiorano since 2007, and in 2010 it opened its first factory in Sombor producing children's, women's and men's hosiery, swimwear and underwear.

Calzedonia received an additional €800,000 to expand its investment in Sombor, namely €2,000 for each of the 400 new jobs.

The company has developed a network of approximately 3,000 stores worldwide, creating more than €1 billion in revenue per year.

Government of the Republic of Serbia


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search