The Hindu Business Line : Crew B.O.S., Leather Crafts join hands for footwear unit

Crew B.O.S. Products Ltd, a New Delhi-based leather products company, plans to set up a footwear and accessories manufacturing unit near here in a joint venture with the Chennai-based Leather Crafts (India) Pvt Ltd.

In an announcement to the stock exchange, Crew B.O.S. said that it has entered into an agreement with Leather Crafts to set up the joint venture, Crew MAG Exports Pvt Ltd.

According to sources in the know, the footwear manufacturing unit is to come up at the Mahindra World City, the SEZ near Chennai on NH 45.

The joint venture company also plans to set up another full-shoe unit at Manesar, Gurgaon.

However, the details of the partnership and the project are in the process of being finalised, they said.

The facility here will initially have a capacity to manufacture 5,000 pairs of shoes a day involving investments of about Rs 20 crore.

The final size of the project will depend on the market demand - the company will cater to the markets in the US and Europe, the sources said.

Leather Crafts is a leather products manufacturer which has been in the business for over three decades. It is now looking at diversifying into full shoes and shoe uppers for the export market.

Crew B.O.S. is a manufacturer and exporter of fashion accessories and home decoration products of fabrics and leather.

Its products include belts, bags, business cases, footwear and home furnishings.

The company shares of face value of Rs 10 opened on the BSE at Rs 254.90 and closed at Rs 253.80.

More Stories on : New Projects | Alliances & Joint Ventures | Leather

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