The new fabric range includes H&S’s Imperial Gold - the ultimate in luxury worsted suiting, Blue Sapphire, Black Pearl and The Signature Collection. It is designed for contemporary users of India, who are highly educated, sophisticated, well travelled and are willing to spend on quality products, says HSIPL.

“This partnership would set new standards in luxury by making available the rarest and most exquisite fabric collections to our customers from the world renowned Holland & Sherry. HSIPL has successfully created new channels with 100-plus dealer outlets operational in all provinces in India. The aim of the venture is to have an annual growth of 15 to 20 per cent for the coming five years,” said C Bhaskar, managing director and CEO, Digjam Ltd and H&S India.

There is a growing demand for international luxury brands in India. The luxury segment in the country is growing rapidly at 25 per cent CAGR and a recent report by industry chamber ASSOCHAM expects this segment to grow to approximately $18.6 billion by 2016-17. The ultrafine fabric collection being marketed by HSIPL seeks to cater to this segment.

“We are proud to bring the best of H&S’s world class fabrics for Indian customers through this partnership. We compliment our partners for the strong networking and distribution channels they have created for HSIPL in a short period and look forward to successfully developing business in India through this venture,” said Frank O’Reilly, chief operating officer, H&S.

Prestigious cloth weaver H&S holds 51 per cent share in HSIPL, while Birla Holding Ltd holds the remaining 49 per cent. (KD)

Fibre2Fashion News Desk – India