1345 Investors following Celebrity Fash. Share this News with them.
0
Like this story, share it with millions of investors on M3
Celebrity Fashions looks to Vietnam as sourcing base
Chennai-based garments exporter Celebrity Fashions Ltd plans to take up manufacturing in Vietnam by partnering with a local garments maker to take advantage of that country’s lower cost structure.
Chennai-based garments exporter Celebrity Fashions Ltd plans to take up manufacturing in Vietnam by partnering with a local garments maker to take advantage of that country's lower cost structure.
The company will seek out a local manufacturing unit with around 500 machines which will then work to Celebrity's design specifications for its clients.
While Bangladesh is another country which Celebrity is looking at as manufacturing base, the company is in active negotiations with a handful of companies in Vietnam, said Mr V. Rajgopal, Chairman & Managing Director.
Speaking to mediapersons, he said that Indian units could not match Vietnam in cost - while it costs $2.10 in India per garment in 35 minutes, Vietnamese manufacturers could offer it at $1.10 in the same time.
The plan to take manufacturing to Vietnam; a planned private equity investment from a Singapore-based fund in its domestic retail play, Indian Terrain; an aggressive slashing of a high-cost base; opening of a marketing office in New York; and the roping in of new global brands to export to are all part of a turnaround plan sewed up by Celebrity which had been hit by adverse market conditions and acute labour problems.
|
Budget: 2008, 2009, 2010, 2011, 2012 |
Intuit Money Manager |
RBI Credit Policy | Union Budget | Budget 2012
| Economic Survey
| Railway Budget
| Financial Glossary
|
Message Board |
Moneybhai |
Connect.in.com |
Business Yellow Pages |
India's Premiere Technology Guide | History India
| Up Polls | Latest News
| Uninor | Aurobindo Pharma | Tata Steel | Vodafone Essar | Reliance Industries | BSE Sensex | Vodafone | Search Engines | Montek Singh Ahluwalia | Reliance Communications 
The company will seek out a local manufacturing unit with around 500 machines which will then work to Celebrity's design specifications for its clients.
