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Arushi Sen

Also looking at tie-up with European companies

Mumbai , July 11

After acquiring the US designer brand Nick Hilton and outer wear company Gordon & Ferguson Inc for Rs 7.5 crore and Rs 34 crore respectively, readymade garment manufacturing and exporting firm Sharju International Ltd is now setting its sights on Europe.

Sharju International Ltd is a 100 per cent export-oriented company with 80 per cent of its exports to the US.

"At present we are heavily in the US market, therefore we are looking towards Europe now, specifically sportswear brands. We are in talks with companies, but it is too early to say anything. We either want to acquire a brand or collaborate with an European company," said Mr Amit Goyal, Managing Director, Sarju International.

Acquisitions for growth

"As a standalone company, we are worth Rs 10 crore-15 crore. After our acquisitions, the company should be worth Rs 150 crore-200 crore," said Mr Goyal. The acquisitions would propel the company's turnover growth to around 7-8 per cent.

With these acquisitions, Sarju International now owns a number of brands including Toma, Lift Ticket and Stream. The funds for the acquisition came through private placement of shares.

India plans

Looking forward, the company is looking to take advantage of the retail boom in India. Nick Hilton's flagship store will be launched in Mumbai in January 2007 before moving on to other cities. "We want to bring all the brands that we have to India as it is emerging as an interesting retail story. In a year, we hope to bring these brands to India," said Mr Goyal.

An IPO is also on the cards. The company hopes to go public in the next three months. They are holding back until the market becomes more stable.

A 50,000 sq ft factory was built in Tirupur, Tamil Nadu, in April to cater to the acquired brand. The money from the IPO will be used to further expand this facility.

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