Opportunity Sri Lanka | » MAS announces joint venture with Tata Group’s Trent in India.
MAS announces joint venture with Tata Group’s Trent in India.

MAS announces joint venture with Tata Group’s Trent in India.

The Morning: MAS Amity (Pvt.) Ltd., a subsidiary of MAS Holdings, has signed a joint venture (JV) agreement with Tata Group’s Trent Ltd., setting up an entity in India for the joint development of the business into intimate wear and other apparel-related products, the company noted in a statement.
Speaking on the occasion, MAS Holdings (Pvt.) Ltd. Chairman Mahesh Amalean said: “The significance of our partnership with Tata lies in our shared sense of values and an appreciation of the enormous business opportunities that the Indian market affords. This JV will help leverage our combined capabilities, connecting MAS’ expertise in product creation, and manufacturing with Tata Trent’s expertise in Indian retail. This partnership further aligns with MAS’ long-term intent to scale business and expand our presence in India.”
Trent Ltd. Chairman Noel N. Tata said: “We see significant opportunities to leverage the growing reach of our brands to build a differentiated proposition in lingerie, activewear, and related categories. MAS brings impeccable capabilities and track record in the manufacture of high-quality products in this space. This collaboration between Trent and MAS would deepen Trent’s strategic commitment to offer fully owned brands at its retail stores and enable MAS to expand its international presence further. We are excited at the prospects of leveraging our joint synergies and delivering greater value to our customers.”
Over time, MAS and Trent expect to pool their domain expertise to undertake the design, development, and manufacturing of a range of intimate wear and other apparel products. Initially, the joint venture would facilitate the design and sourcing of related products.
Trent Ltd. is part of the Tata Group and operates a portfolio of retail concepts. The primary customer propositions of Trent include Westside, one of India’s leading chains of fashion retail stores; Zudio, a one-stop destination for great fashion at a great value; and Trent Hypermarket, which operates in the competitive food, grocery, and daily needs segment under the Star banner.
OSL take:
The joint venture between a Sri Lankan company and an Indian business is indicative of the potential of forming partnerships or joint ventures between local and foreign businesses. Despite facing challenging economic conditions, Sri Lanka’s private sector has shown great resilience by recording growth and profits last year. Several key economic sectors continued with the growth momentum amidst the challenging conditions. The country is also working towards becoming an emerging business destination in the South Asian region. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country have also helped boost Sri Lanka’s chances of attracting foreign businesses/investors. The strong bilateral and trade ties between Sri Lanka and India have resulted in India becoming a key development partner of Sri Lanka while Indian businesses/investors have entered the Sri Lankan economy. Given the growth and business potential in Sri Lanka, Indian businesses/investors could explore the expanding opportunities in Sri Lanka while also looking at forming partnerships or joint ventures with local businesses. Also, businesses/investors from other countries interested in doing business with India could look at setting up base in Sri Lanka to engage with India.

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Article Code : VBS/AT/22022023/X_5

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