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Indian entrepreneur pockets UK childrenswear brand
14 May '10
2 min read
UK-based, childrenswear retailer, Adams has been sold to a Indian entrepreneur, Sharad Madan, who is also involved in the apparel industry since the last 25 years, said a top-ranking official of Adams. Mr Madan will also increase the presence of the brand in the Indian market though the franchisee route.
Mr Steve Martin, CEO of Adams who spoke exclusively to fibre2fashion said, “Adams Childrenswear has been acquired by Mr Sharad Madan. Mr Madan has been involved in the fashion business for over twenty five years and has great deal of experience of different aspects of the fashion industry.
“His existing business interests include a London based design studio, manufacturing / sourcing offices in India, China and Bangladesh. The key members of existing management team have pledged their total support to the business and Mr Madan is committed to expanding the retail operations in UK and internationally through its franchise partners.”
“He considers markets like India where the brand already has a presence in Delhi and Mumbai, to be of great potential for expansion. The company has plans to open 50 new stores in India over the next 18-month period.
“The online business which has been the biggest growth area for the business will be important to company's expansion. The business plans to expand its product range to include nursery furniture, pushchairs and car seats amongst other new products”, he concluded by saying.
Mr Steve Martin, CEO of Adams who spoke exclusively to fibre2fashion said, “Adams Childrenswear has been acquired by Mr Sharad Madan. Mr Madan has been involved in the fashion business for over twenty five years and has great deal of experience of different aspects of the fashion industry.
“His existing business interests include a London based design studio, manufacturing / sourcing offices in India, China and Bangladesh. The key members of existing management team have pledged their total support to the business and Mr Madan is committed to expanding the retail operations in UK and internationally through its franchise partners.”
“He considers markets like India where the brand already has a presence in Delhi and Mumbai, to be of great potential for expansion. The company has plans to open 50 new stores in India over the next 18-month period.
“The online business which has been the biggest growth area for the business will be important to company's expansion. The business plans to expand its product range to include nursery furniture, pushchairs and car seats amongst other new products”, he concluded by saying.
Fibre2fashion News Desk - India
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