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Rovitex Homedeco buys Gardénia brand
27 Aug '11
1 min read
Rovitex Homedeco Group, a textile trading firm, has announced that it has acquired Gardénia Lace Curtain Factory, which was under liquidation since May 2008.
The firm revealed that it has bought the brand name as well as rights for products of Gardénia from its liquidator.
Post-acquisition, Rovitex is expecting a 20 percent rise in its turnover over the next couple of years.
Last year, Rovitex earned HUF 10 million in revenues through sale of products worth HUF 2.6 billion. HUF 1.7 billon of this was domestic sales.
Overall sales of Rovitex Homedeco during the initial six months of the current year increased by 13 percent over corresponding period last year, while the revenues have also gone up to HUF 43.9 million.
The firm revealed that it has bought the brand name as well as rights for products of Gardénia from its liquidator.
Post-acquisition, Rovitex is expecting a 20 percent rise in its turnover over the next couple of years.
Last year, Rovitex earned HUF 10 million in revenues through sale of products worth HUF 2.6 billion. HUF 1.7 billon of this was domestic sales.
Overall sales of Rovitex Homedeco during the initial six months of the current year increased by 13 percent over corresponding period last year, while the revenues have also gone up to HUF 43.9 million.
Fibre2fashion News Desk - India
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