Date:15/01/2008 URL: http://www.thehindubusinessline.com/2008/01/15/stories/2008011551710300.htm

Back House of Pearl buys 75% of HK co Simple Approach

Our Bureau

Mumbai, Jan. 14

House of Pearl Fashion Ltd has signed a memorandum of understanding to acquire 75 per cent in Simple Approach Ltd, a Hong Kong-based marketing company, to strengthen its distribution in the overseas market, according to a company release on the BSE.

By leveraging Simple Approach’s sourcing capabilities, House of Pearl will offer wider product ranges at competitive prices and aims to achieve 25 per cent annual growth in its business every year for next three years, continued the release. The company is looking at entering fashion retailing in India with plans of launching a German Brand, Lerros.