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Indonesian apparel firm Pan Brothers eyes 30% sales growth
19
May '12
Despite a slowdown in Europe and the United States (US) – two of its key markets – PT. Pan Brothers TBK, one of Indonesia's leading garment manufacturers, is eyeing a 30 percent rise in its sales for current year, mainly owing to rapidly growing Asian markets.

Anne Patricia Sutanto, Vice Chief Executive Officer of Pan Brothers, said while Europe is weakening, Asian markets are developing at a faster pace. Hence, the company, which till now remained focused on European clients, is now eyeing Asian markets.

To cater to the anticipated rise in demand, the firm decided to develop four garment factories in Boyalali, Central Java with total investment of Rp 300 billion or US$ 33 million.

While two of these factories have already commenced operations at 40 percent capacity, the other two are likely to go operational this year –one in June, while another in August.

The two new factories would have 25 assembly lines and 1,500 machines and would produce garments to cater to international brands like Adidas, Nike and The North Face. These are expected to generate around 2,500 new jobs.

Meanwhile, Ms. Sutanto said launch of a personalized brand remains the ultimate goal of any garment producer, and Pan Brothers is no exception. The company proposes to launch its personalized brand and penetrate in garment retailing space, next year.

Pursuant to its plan to penetrate in retail space, the firm proposes to invest Rp 35 billion, from the Rp 419 billion that it made from rights issue, last year.

Also, it intends to embark on production of apparel items like polo shirts for international brands. Over the next five years, the company expects its retail business to contribute about 10 percent of its overall revenues.

The company made Rp 2.7 trillion in revenues during last year, which is a 52 percent higher than 2010, while its net profit for 2011 came to Rp 72.1 billion, a two-fold rise over 2010.

The share of company's exports to Asian markets surged from 9 percent in 2010 to 17 percent last year. But at the same time, its exports to the US fell from 40 percent to 33 percent, while those to Europe plummeted from 51 percent to 49 percent.

Fibre2fashion News Desk - India

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