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Brandix Acquires JV Comfortwear

(Filed Under Financial and General Interest News). Brandix, a major apparel exporter out of Sri Lanka, has entered bras with the acquisition of JV Comfortwear, its former joint venture with Lanka Equities.

The new cluster, called Brandix Lingerie, will manufacturer specialty bras and coordinates for H&M, Marks & Spencer, Victoria’s Secret and other global retailers. Comfortwear’s two manufacturing facilities in Nittambuwa, Sri Lanka, which Brandix has operated since 2008, have been restructured into a bra and lingerie focused facility under the Brandix Lingerie name. The company’s additional product categories include intimates, casualwear, briefs, textiles, knits and accessories.

“Specialty lingerie, particularly core and fashion bras, is a category with tremendous potential and the Brandix Group is making a substantial commitment through financial investment and recruitment of technical competencies to integrate this segment into its portfolio,” said Dave Ranasinghe, director of Brandix Lingerie.

Rajiv Malalasekera, C.E.O of Brandix Lingerie, added that retail demand for the category continues to grow. “There was an identified need for expansion of our capacity in this product category considering Brandix’s position as a preferred supplier across varied product categories to established retail brands with a global presence,” he said. “There is also a visible shift by large retailers into the region to source specialty lingerie, which requires skilled labor and affordable and reliable capacity aligned with fashion lead time requirements. Hence there is an opportunity for Brandix to be a bigger player in this segment.”

more Financial and General Interest News >>

Published 03-25-2011 by Amanda Torres Price

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Brandix Acquires JV Comfortwear

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