Brandix, a major garment producer of Sri Lanka stated that, they are getting ready for probable removal of the European Union trade concessions, GSP+.
Ashroff Omar, CEO, Brandix said that, the company, while considering the contingencies that may arise in case, the trade concessions to Europe are withdrawn, was viewing to tap Asia's new markets.
While addressing a press conference, Omar said that, according to them, removal of GSP+ would not be a major cause of concern for the company.
Adding further he said that, they are expanding the business so as to serve the global markets as garment manufacturers. Also, at this moment they are not desirous of building a retail brand for the company, as they are looking forward to source leading retail chains and brands, the world over, and it was essential that their actions were perfect.
The main aim of the company is to establish itself as a leading manufacturer of clothing for global retailers.
For 2009, the company's total export earnings stood at around US $360 million, 70 percent of which flowed from US markets and the rest from European markets. Brandix, which owns 27 plants in Sri Lanka employs around 25,000 people in those plants.
The company, in association with the Indian government and with a total expenditure of $1 billion, is setting up an apparel city in Andhra Pradesh.
Fibre2Fashion News Desk - India
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