ECONOMYNEXT – Sri Lankan apparel exporter Brandix has signed a joint venture agreement with Best Pacific of Hong Kong to produce synthetic fabric and webbing in the island with specific focus on warp knit synthetic fabric.
The joint venture will be managed by Best Pacific, a global synthetic materials manufacturer, a statement said.
No financial details were disclosed.
The agreement signed by the two companies in Colombo this week envisages the construction of a manufacturing facility in Pannala for the manufacture of synthetic fabric and webbing.
“This joint venture will propel Brandix’s drive towards delivering the most innovative and inspiring products to the consumer,” Brandix chief executive Ashroff Omar said.
The Best Pacific Group has established long-term and close collaboration with customers of leading brands such as Marks & Spencer, Spanx, Triumph, Victoria’s Secret, Wacoal,Aimer, Chantelle, Embry Form and Maniform.
“With its strong innovation and product development capabilities, the group not only manufactures synthetic materials for these brands, but also jointly develops new materials and products in order to start new market trends for their product
(COLOMBO, November 20, 2017)