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JV with Quantum to help Brandix in technology
08 Sep '06
1 min read
One of Sri Lanka's largest apparel companies, Brandix Lanka has entered into a joint venture with Quantum Clothing to start a new garment dye venture in the country.
Stevensons Lanka company is a trilateral agreement among UK-based Quantum, Brandix and Lanka Equities. The company is going to process garments of major brands and retailers like Marks & Spencer, Diesel, Dockers, Tommy Hilfiger, Next and Gap Inc.
The deal follows the announcement that Stevensons Dyers is to close down after more than 140 years in the business. The company recovered 300,000 garments per year on failed quality apparel manufactured overseas with yearly retail value exceeding £20 million.
Brandix with annual proceeds of $200 million has 10 percent share in the Sri Lanka's apparel exports. It is in the midst of updating its technology and processes to counter the Chinese onslaught that are making in-roads in Brandix market.
The new venture will help Brandix in supplying high quality piece-dyed garments and will be able to use the good name of Stevensons.
Stevensons Lanka company is a trilateral agreement among UK-based Quantum, Brandix and Lanka Equities. The company is going to process garments of major brands and retailers like Marks & Spencer, Diesel, Dockers, Tommy Hilfiger, Next and Gap Inc.
The deal follows the announcement that Stevensons Dyers is to close down after more than 140 years in the business. The company recovered 300,000 garments per year on failed quality apparel manufactured overseas with yearly retail value exceeding £20 million.
Brandix with annual proceeds of $200 million has 10 percent share in the Sri Lanka's apparel exports. It is in the midst of updating its technology and processes to counter the Chinese onslaught that are making in-roads in Brandix market.
The new venture will help Brandix in supplying high quality piece-dyed garments and will be able to use the good name of Stevensons.
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