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Maxwell hunts for partner to co-market fashion apparel
23
Jun '15
Malaysian footwear manufacturer Maxwell International Holdings Bhd, which plans to diversify into the fashion apparel market, is looking for a partner to co-market its products, according to media reports in the country.

Chief financial officer Tan Swee Song said given the competitive fashion business landscape, it planned to leverage on the e-commerce platform and market the clothes online, besides setting up a physical store.

“We are in the process of evaluating which brands under us can be profitable,” he told reporters after the company’s AGM in Kuala Lumpur on June 22.

Tan said the group began diversifying into the retail and branding of garment and the fashion business in late 2012 although there has been no significant contribution to the group’s overall revenue and profitability.

The brands sourced by the group include Thomas Dean of New York and Punto Blanco of Barcelona.

Maxwell International is also an original equipment manufacturer (OEM) and original design manufacturer (ODM) for a host of third-party brands including Wilson, Sketchers and Diadora.

The group has four production lines with a total production capacity of about eight million pairs of sports shoes per annum.

On outlook, chief executive officer Xie Zhenan said the company was confident of its bright long-term prospects.

“If we were not confident of our prospects, we would not have dared to develop the land in Henan, China,” he said.

As part of its long-term capacity expansion and facility upgrading plans, it secured 50 years of land use rights for 17.35ha of industrial vacant land in Henan province for 34.5 million yuan ($ 5.63 million).

In May 2013, the group began construction of a new factory which is expected to be completed in three years, and will subsequently double its total installed production capacity. (SH)

Fibre2fashion News Desk – India


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