Iconic German fashion house Hugo Boss has signed a sourcing deal with Hyderabad-based Pokarna Group, makers of Stanza brand, in a move to boost Indias stature as a value-added player among apparel sourcing markets globally.
The development could also provide some cheer to Indias $9-billion garment export sector, which has been reeling under declining business in the wake of dipping consumer sales worldwide.
Sectoral observers believe that the deal with Hugo Boss would prompt other luxury brands to take a more serious look at Indias apparel sourcing potential, and go some distance in de-risking the sector infamous for the low-margin, volume driven business model.
Pokarna Group director Rahul Jain said that the deal was part of the companys aim at emerging as a key supplier to marquee brands like Hugo Boss. He said, "Shipments have already begun. We would be unable to talk specifically about either the quantum of off-take by Hugo Boss or the value of the deal. We have been in discussion with Hugo Boss for about three years before we were able to sign up as a supplier."