MAS Holdings, a $750 million Sri Lanka-based supplier of lingerie, active-wear and sports wear to various global companies with reputed brands, has signed an agreement with the Andhra Pradesh Governme
MAS Holdings, a $750 million Sri Lanka-based supplier of lingerie, active-wear and sports wear to various global companies with reputed brands, has signed an agreement with the Andhra Pradesh Government to set up a textile Special Economic Zone (SEZ) in Nellore district. Ajay Amalean, Director, MAS Holdings, said that it would be an integrated fabric and apparel park and come up on 735 acres. The park would house various units such as fabric producer to ready-made manufacturer to designing studio. It would be set up in four-five-year period and the park would have an investment inflow of $200 million. MAS Holdings which operates from 28 manufacturing facilities also has two design studios and sourcing and innovation arms across seven countries. In India, it has three units — Intimate Fashion and Linear Fashion in Chennai and Intimate Clothing in Bangalore. The Chennai factory is a joint venture with Triumph International whereas the Bangalore and another Chennai factory are wholly-owned factories of MAS Holdings. It is the single largest supplier to Victoria’s Secret and also makes apparel for Gap and Nike. Mr. Amalean was in Chennai to launch the company’s own brand of lingerie, Amante, exclusively for India. It would invest $10 million on the product right from manufacturing to marketing. The company had already invested $150 million on the supply chain in all its factories in Sri Lanka. Amante has been designed for the Indian women and would not be sold elsewhere in the world. Amante would be initially distributed through large format stores and regional multi-brand stores. Eventually, the company would set up its own exclusive stores on franchise model. The initial launch would be in the South and during the first half of next year it would be introduced in the north and the west. He said the company was planning to launch three models — glamour, confident and comfort and these would be priced from Rs. 350 to Rs. 1,000.