Leading clothing brand Esprit stated that the company will increase garment sourcing from India, apart from efforts to penetrate the domestic market.
Esprit Chief Operating Officer (COO), Thomas Johannes Grote informed that of course, sourcing from India will see a significant increase. After announcing it plans for a new store in partnership with Birla group company Madura Garments.
Grote stated that Esprit was already sourcing garments like shirts and trousers from India, though China and Taiwan were the Asian countries from where a majority of products were being taken.
The company had entered into a distribution arrangement with Madura garments, with the objective of tapping the domestic market. Stores have already been launched in Mumbai and Bangalore, where its brands are being sold. Madura is a branded apparel leader.
Grote informed that India would become "one of the most important market" for the company in the next 10-12 years. They want to build their brand in India.
Madura Garments President Hemchandra Javeri informed that they are aiming at key segments of women's wear, premium relaxed clothes and accessories, which will add to the flavour in premium retail business.
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