Trent Ltd announces a 50:50 Joint Venture with MAS Amity Pte Ltd
The joint venture would facilitate the design, sourcing and manufacturing of activewear and related products.
On January 19, 2023, the company informed in the exchange filing that Trent Ltd executed a Joint Venture Agreement with MAS Amity Pte. Ltd to set up an entity in India for jointly developing a business of intimate wear and other apparel-related products. Trent and MAS would pool their domain expertise to undertake the design, development and manufacturing of a range of intimate wear and other apparel products.
Noel N Tata, Chairman, Trent Limited 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 their international presence further. We are excited at the prospects of leveraging our joint synergies and deliver greater value to our customers.”
Mahesh Amalean, Chairman, MAS Holdings (Pvt) Ltd 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 JVA 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.”
Today, the stock opened at Rs 1213.95 with a high and low of Rs 1213.95 and Rs 1177.00. The stock closed trading at Rs 1182.20, up by 1.24%.
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