Brandix, a leading apparel exporter from Sri Lanka has revealed that it is diversifying its lingerie business and remodelling it as an independent segment, after gaining total control over two joint venture facilities and acquiring a third facility.
The Group revealed that, it has obtained total control over the management of Comfortwear (Pvt) Ltd, as it bought its joint venture partner Lanka Equities, which owned two factories. However, the Group did not disclose the acquisition price.
The two facilities are located in the Nittambuwa and Wathupitiwala export processing zone, which is under the firm's management since 2008.
The firm acquired one more facility in the zone in October 2010, to meet demand.
Also, it has established a centralised warehouse and processing facility at the zone to support operations of the three facilities.
The new segment 'Brandix Lingerie' will engage itself in production of high-end specialty bras and complementary coordinates for Victoria's Secret, H & M and Marks & Spencer.
Rajiv Malalasekera, Chief Executive of Brandix Lingerie in a statement said that, they now employ 2,600 employees in lingerie business, and have plans to raise their worker's strength by 20 percent in the second part of the current year and are also deliberating over acquiring additional capacity.
Brandix Lingerie now works in association with the UK based design firm, FSV to source lingerie to Marks & Spencer, one of its leading clients. Also it has invested in acquisition of new machinery for production of specialty lingerie.
In addition to this, the Group even has made investment in the Andhra Pradesh based Brandix India Apparel City (BIAC) for production of bras.
Fibre2fashion News Desk - India
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