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Set up of TOM TAILOR Sourcing Ltd

16
Nov '11
The lifestyle company TOM TAILOR has bundled its purchasing activities in Asia in its new purchasing company TOM TAILOR Sourcing Ltd. The company has set up this joint venture with its long-standing partner Asmara International Ltd., based in Hong Kong, with effect from November 1, of this year.

Asmara International has access to a well-established, efficient network of suppliers throughout Asia's key procurement markets and has is TOM TAILOR's largest partner in the region. The aim of this strategic partnership is to directly control purchasing activities in Asia in the future. The company additionally expects to benefit from the bundling of purchase orders.

'The situation on the Asian procurement market has become increasingly tight in recent years as the level of competition for capacity is rising. Creating a stand-alone presence in the region represents an important competitive advantage in efforts to safeguard swift and optimum access to the necessary production capacities.

As a vertical systems supplier with collections that change on a monthly basis, this is absolutely critical, as the right goods must be in the right place at the right time in the right amount and quality,' explains Dieter Holzer, Chairman of the Management Board (CEO) of the TOM TAILOR Group.

'We have enjoyed a close and trusting working relationship with Asmara International since 2004. The company is the ideal partner for the joint venture given both its size and infrastructure. TOM-TAILOR now has direct access to purchasing offices in Indonesia, Hong Kong, China, India, Bangladesh, Vietnam, Cambodia and Pakistan. The joint venture represents a logical strategic step in order to optimise and control directly the local cooperation with and advising of suppliers in Asia.'

TOM TAILOR is the majority shareholder in TOM TAILOR Sourcing Ltd. with a 51 per cent share; Asmara International owns 49 per cent of the venture. The new company, based in Hong Kong, is led by a former Hennes & Mauritz manager and draws on the infrastructure and regional expertise of Asmara International.

Following a transitional period of around 15 months, the aim is for TOM TAILOR Sourcing Ltd to handle directly all purchasing activities for goods acquired by TOM TAILOR from Asia. TOM TAILOR currently obtains around 90 per cent of its products from Asia, with production taking place primarily in China, Bangladesh, India and Indonesia.

The TOM TAILOR Group is an international and vertically integrated lifestyle company. It offers stylish casual wear and accessories for men, women, teenagers and children in the medium price range. Since the Company's establishment in 1962 its authentic fashions have highlighted a positive and light-hearted attitude to life. Every year 12 collections are developed for each of the product lines TOM TAILOR Casual and TOM TAILOR Denim.

The TOM TAILOR Group


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