Innovative tailoring provider Bagir, has acquired the remaining 50 per cent stake from its joint venture partners in Nazareth Garments, Ethiopia for $1.9 million. Bagir first acquired a 50 per cent in the company in November 2014, and has since been focused on investing in and developing the site by upgrading the machinery and infrastructure.
In late 2016, Nazareth completed its first international export order for H&M along with a trial order for Haggar Clothing.Innovative tailoring provider Bagir, has acquired the remaining 50 per cent stake from its joint venture partners in Nazareth Garments, Ethiopia for $1.9 million. Bagir first acquired a 50 per cent in the company in November 2014, and has since been focused on investing in and developing the site by upgrading the machinery and infrastructure.#
Bagir has also chalked out an expansion plan to be implemented over the next five years, under which, it will set up a facility to produce up to 3,000 trousers and 200 jackets per day, and also upgrade the existing machineries. (AR)
ALCHEMPro News Desk – India
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