“Looking at the world market, China represents one of the biggest opportunities in the apparel and consumer products market, with both brands and retailers,” says Chris Groves, Centric’s president and CEO. “Centric has a tremendous amount to offer these companies as they grow and expand internationally. The time is now for PLM adoption, and specifically for adoption of flexible, configurable software like the Centric 8 PLM solution.”
The announcement of the Shanghai office opening comes on the heels of Centric’s July 29 announcement of $24 million in growth capital as part of its Series D venture capital financing. One of the primary goals of the financing round was to help Centric expand its presence in the China market, according to Groves. “As the Chinese consumer product market expands and becomes more sophisticated and complex, so, too, are companies’ business processes,” he explains.
“The market is ripe for PLM’s efficiency, business benfits and ability to manage market complexities.” Fung Capital USA and Silver Lake Waterman led Centric’s Series D financing round.
Fung Capital USA is the investment arm of the Hong Kong-based Fung family, whose holdings include Li & Fung Limited, a public company that sources and distributes consumer products globally, with more than $20 billion in revenues. Silver Lake Waterman is the growth capital arm of Silver Lake, the global leader in technology investing.
Prior investors Oak Investment Partners and Masthead Partners also participated in the financing round. Centric already is working in China. The Sak, which designs and manufactures texture-rich handbags, footwear, and accessories, is implementing the Centric 8 PLM solution with its product development team in China.
Cache Cache China, which offers modern, fashionable and accessible women’s ready-to-wear apparel, is implementing Centric 8 across all of its product lines. Because Centric 8 comes ready for configuration, out of the box, companies need not spend valuable resources on customization of the software, says Groves.
“The Agile DeploymentSM concept with which Centric 8 works will give Chinese companies the ability to configure for their processes and needs,” he states. “Centric can flex with businesses as they adapt to new business processes.”
Textiles | On 15th Dec 2018
President Omar al-Bashir of Sudan, President Ismail Omar of Djibouti...
Textiles | On 15th Dec 2018
Some people are trying to create unrest in Bangladesh over the...
Apparel/Garments | On 15th Dec 2018
Cambodia has seen remarkable improvements in labour standards in the...
Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli
‘The percentage share of printing in the global textile market is pretty...
Textile industry, India
Such fairs are a must for industry to showcase new innovations
Mag Solvics Pvt. Ltd
ITME 2016 exploited our full strength like never before
Sushila International, a well established textile organisation established ...
Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...
A specialist in manufacturing printing machines, <b>Wenzhou Changs</b>...
Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...
The Association of the Nonwoven Fabrics Industry (INDA) has created a new...
Coating at a fibre level is a practice not usually seen in the...
Somaiya Kala Vidya
Among the many honours showered on Frater, including Fulbright and Ford...
India Boulevard is a San Francisco-based curated fashion marketplace that...
The hype around 'designer jeans' was created by him. And the new wave of...