Financial Daily from THE HINDU group of publications
Saturday, May 27, 2006
Financial Daily from THE HINDU group of publications Saturday, May 27, 2006 |
|
|
|
|
|
|
|
Corporate
-
Mergers & Acquisitions S.P. Apparels picks 60.14 per cent stake in Crocodile Products Our Bureau
STAKE SALE: Mr Ang Boon Tian (left), Managing Director, Crocodile International PTE Ltd, and Mr P. Sundara Rajan, Managing Director, S.P. Apparels Ltd, at a press conference in Mumbai on Friday. — Shashi Ashiwal
Mumbai , May 26 S.P. Apparels Ltd, a Coimbatore-based garment company, has acquired 60.14 per cent stake in Crocodile Products Pvt Ltd from Shivrams Associates Pvt Ltd. S.P. Apparels would invest Rs 25 crore in setting up 30 company-owned stores in all major cities, Mr P. Sundara Rajan, Managing Director of the company, said. It also plans to set up another 50 stores as franchisee arrangements exclusively for Crocodile products. S.P. Apparels acquired the stake in Crocodile to increase its retail presence. S.P. Apparels, a Rs 210-crore company, would undertake the expansion activities for Crocodile ProductsIndia (CCPL).
Plans design studio
In three years, it aims to take CCPL's turnover to Rs 100 crore from the current level of Rs 10 crore. It also plans to set up a design studio that will develop products for the domestic markets on international design and quality standards. The advertisement budget will be increased to the tune of Rs 4 crore. Crocodile, which offers complete men's wear clothing and accessories would emphasise on targeting a younger audience with trendier and fashionable clothing. "Indian market is bullish and we are looking at maintaining our growth here," Mr Ang Boon Tian, Managing Director, Crocodile International, said. Crocodile is looking forward to launch its women and children wear collection in the future and develop the men's wear brand to a `family' brand. Crocodile India to have new management team
New management
G. Gurumurthy adds from Coimbatore With the majority buyout of shares in Crocodile Products , a new management team from S P Apparels will look after the affairs of CPPL. While Mr P. Sundara Rajan, Managing Director of S P Apparels, will be the chief mentor of Crocodile, Mrs P.V. Jeeva will be the chief operating officer in charge of marketing, merchandising, production and quality control. Mr J. Stanley Jothiraj, Chief Finance Officer, will be in charge of finance, accounts and shipping/IS. The Vice-President (retail operations), Mr Sanjay Chandrasekhar, will handle domestic retail operations in Crocodile.
More Stories on : Mergers & Acquisitions | Readymade Garments | Brands
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|