House of Pearl Fashions sets up US subsidiary
Targets Rs 100 crore business New Delhi September 20, 2006

House of Pearl Fashions Ltd, the Rs 800 crore group engaged in management of entire supply chain of fashion industry, has set up a wholly owned subsidiary in USA, House of Pearl Fashions US Inc. The subsidiary will lead marketing & establishing of supply chain alliances with global brands based in North America.

“The setting up of our US subsidiary is inline with our growth strategy to become a strategic supplier to existing and potential customers in the critical US market. This will help understanding customers’ business needs better as we will be working closely with them,” says Mr Deepak Seth, Chairman, House of Pearl Fashions Ltd.

He further added, “As we plan to nearly double our manufacturing capacities in India, Bangladesh and Indonesia, the US subsidiary will play a critical role in marketing and selling our world class product portfolio”

Mr. Paritosh Nath has been appointed as the Chief Operating Officer of the US subsidiary. He will be responsible for servicing the company’s existing clients as well as business development. Mr. Nath has over 20 years experience in the garment manufacturing and marketing and his strong background in product development and project implementation will help the Group extend its industry position as a global partner for multinational retailers.

Paritosh spent the early part of his career in garment manufacturing in Bangalore first at Apeego and Proline Sportswear, and later as Gokaldas Images where he helped introduce several brands into the country. He was also a guest faculty and jury at NIFT, Bangalore. Most recently in the last five years, he held the position of Executive Vice president at Gokaldas Images USA Inc. where he was instrumental in creating tie-ups and starting new accounts.

House of Pearl Fashions, US Inc is projected to generate a turnover of over USD 20 million (Rs 100 crore) in next couple of years. The company’s current portfolio of clients in US includes JC Penny, GAP, Banana Republic, Kohl’s, Abercrombie & Sears. House of Pearl is the only manufacturer group in the world who is able to offer goods to the customers on LDP (Landed Duty Paid) terms in the US and offering “Speed to Market” solutions. It owns warehousing and processing setups supported by distribution infrastructure in US and Europe. The customer can choose what products they want, when they want and in what quantity they want and these distributing centers are able to deliver those products in large volumes. About House of Pearl Fashions Ltd

House of Pearl Fashions Limited is the flagship Company of the House of Pearl Group, an integrated ready to wear supply chain capable of offering complete supply chain management solutions to its customers. The 800 crore group started operations in 1987 in India with only 1 manufacturing unit and over the years has not only expanded its manufacturing base in India but also set up international businesses spanning over 12 countries. House of Pearl has a long – term customer relationships leading to sustainable revenues. It works with the top retailers of the world and most of them use all the three streams offered by the group. Customers like JC Penny and ASDA Wal – Mart, have categorized the group as a strategic vendor.