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Italian jeans major Carrera to inject $250mn in Indian market

04
Jul '05
One of the largest jeans producers in the world Carrera jeans, based in Italy announced that it would unleash a plan to expand in India in various textile related projects at worth $250 million.

The plan includes, establishment of a garment processing factory at Solapur and a textile engineering unit at Kolhapur.

A top company official informed that the textile engineering unit would be a set by Carrera and Belgium-based Picanol at 50:50 joint ventures, to manufacture the top-notch weaving looms for the Indian and global export market.

Vivek Jacob, CEO of Carrera Jeans explained that Carrera also intends to open about 50 retail outlets in India in the coming two years, with an intension to gather the various textile groups of the country under one roof to support them to sell their products through company's retail global outlets.

Jacob opined that the plan is likely to raise direct employment to 4,000 people and indirect jobs to another 13,000 people in a period of five years.


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