Friday, January 19, 2007

Pearl Fashions looking to acquire overseas brands

Business Standard reports that ready-to-wear apparel brand House of Pearl Fashions is looking to acquire either a retail chain or fashion brand overseas, most likely in the US and UK markets. Company sources said that an investment of Rs 40 crore would be made by the end of the year. Pearl Fashions is specifically looking for a high-end unisex brand for the 15-30 age bracket, something that would compete effectively against Wills Lifestyle or Color Plus. If it does not find the right fit in a apparel brand, then Pearl Fashions would acquire a retail chain in the US or UK, a company that has 50-150 stores, which it plans to run for two years internationally before bringing it to India.

It's own exclusive store, Forever New will be opened by end 2007, in cities such as Delhi, Chennai, Kolkata and Mumbai. Locations have yet to be finalized and both high street and mall locations are been studied. Pearl Fashions will stock its DCC and Koolhearts brand in its own stores. DCC is an apparel and accessories brand for women in the 30-45 age group and Koolhearts is for young women from the ages of 15-25.

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