House of Pearl Fashions ties up with Lerros

House of Pearl Fashions Ltd has informed about the following:

The Company is planning a tie-up with European Brand 'Lerros' subject to requisite approvals for its retail venture in India. The Company will hold 60% equity in the SPV, which will be set up for the retail foray. Lerros will hold 40% equity. Initially, the Company will open ten states in the National Capital Region and gradually increase the number of stores to 300 spread throughout India over a period of three years. The Company also has its own brand in USA, viz. DCC and Kool Hearts. It plans to combine its branding / designing experience with sourcing, knowledge to make a success of their foray in retail in India.

The Company also recently won the best Corporate Social Responsibility award from JC penny, one of its main customers. The company has a diverse customer-base and is serving over 90 retailers across the Globe.