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Italian lingerie firm to build new facility in Serbia
May '12
Italian lingerie producer Calzedonia has entered into an agreement with the Serbian City of Subotica, under which the latter has allotted 8.5 hectare land to the firm in the industrial zone Mali Bajmok for developing a production facility.

The producer of swimsuits, stockings and innerwear for men, women and children, intends to spend around €20 million in the first phase, generating around 1,000 new employment opportunities over the next three years.

The new investment agreement was signed by Subotica Mayor Sasa Vucinic and Francesco Ruffoli, Director of Gordon, the company established by Calzedonia.

Mr. Ruffoli stated they intend to start construction of a 12,000 sq m production facility by May end or beginning of June, and it would take around 10 months to complete the same and commence production.

Subotica Mayor said post signing of the agreement for allocation of land, the onus for all other activities related to setting up of the facility lies on Gordon.

If financial and market conditions remain positive, the Italian firm may later on construct another facility on the same land, and employ around 200 people.

Fibre2fashion News Desk - India

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