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| Sunday, 31 August 2003 |
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Apparel giants merge Apparel giants Phoenix Ventures and Jewelknit Group merged last week to form Brandix Lanka Ltd. "We are one of the largest apparel exporters with a Rs 25 billion annual turnover, which we are planning to double by 2007," said Chairman Brandix Ken Balendra. The Brandix group has over 20 manufacturing plants with a combined workforce of 14,500. Over the last three years, the group has invested over Rs 26 billion in the country, bringing the total investment to date to Rs 3.8 billion. The Chairman stated that the amalgamation of the two groups and the consolidation of the businesses under the newly formed holding company, Brandix Lanka, has maximised the synergies inherent in each of the manufacturing operations. The holding company is structured into three sectors - Brandix Apparel, Brandix Textiles and Brandix Investments. Brandix is a total apparel solutions provider with services including research and development, modern manufacturing facilities, washing, dyeing, finishing and quality control. "Our design team provides customers with seasonal designs which are taken to product development stage. Our infrastructure and technologies are nothing short of world class," added the Chairman. Brandix Apparel, the core of the group's business, focuses on product development, manufacturing and marketing of its key product lines casualwear and intimate apparel.The group's most significant competitive advantage is its backward integration, which will prove decisive in a quota-free world after 2005. The group has manufacturing operations in Maldives and Madagascar. Its operations are supported by marketing offices in New York and London as well as a sourcing office in Bangalore. "We have long-term plans to establish a production presence in India, Mexico and China," said Balendra. Expressing his views on future mergers, he said they are open for discussion. The group is fully geared to face a quota-free environment and continue expanding its product portfolio to the world's most acclaimed fashion brands. |
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