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Technocian Fashions to acquire sourcing ops of Germany's lifestyle co s.Oliver in India

Mint  

German apparel retailer s.Oliver Group has announced a partnership with Techno Design GmbH, part of parent company PDS Multinational Fashions Ltd. As part of the agreement, Techno Design's associate company, Technocian Fashions Pvt Ltd, will acquire s.Oliver Group's sourcing operations unit S.O.T. Garments India via a share purchase agreement. S.O.T Garments is based in Chennai, India. Technocian Fashions will take over all employees and contracts of S.O.T. Garments India and shall exclusively source textiles in India and Sri Lanka for the s.Oliver Group. s.Oliver Group is a German fashion and lifestyle company that sells apparel and accessories, as well as different license products like shoes, jewellery, fragrances, and eyewear. It has a presence in over 40 countries. PDS Multinational Fashions offers product development, sourcing, virtual manufacturing, and distribution for major brands and retailers worldwide. The company operates through 50 offices in 22 countries.