Sri Lanka-based global apparel manufacturer Hela Clothing announced the acquisition of 50 per cent stake in Indonesia’s Submiri Intimates Apparel Plc.
The step marks the creation of a new joint venture project for the production of intimate products at Ethiopia’s Hawassa Industrial Park.
The collaboration at full scale will result in providing employment to over 3,000 people in Hawassa, increasing the capacity of the manufacturing unit to produce 1 million pieces a month from 250,000 units currently.
With this, it will become one of the world’s largest bra manufacturers with duty-free access to the US, Canada, EU and most parts of developed Asia, including China.
