House of Pearl buys UK-based FX Imports

New Delhi, Dec 6: House of Pearl Fashions Ltd today said it has acquired UK-based Import and Distribution Company 'FX Imports Ltd' through is subsidiary Poetiegem Ltd.

The multinational ready-to-wear apparel company expects to increase its revenue by Rs 80 crore in 2007-08 and is projected to increase its revenue by Rs 200 crore by 2010 as a result of this acquisition, a company statement said.

With this buy-out the company will be able to enter higher end of the market which offer better margins, the statement.

FX Imports Ltd is a reputed supplier to the mid market fashion retailer.

Recently, House of Pearl entered into a joint venture with European brand Lerros.

UNI