Ethiopia: Sil­ver Spark Ap­parel Ethiopia now op­er­a­tional!

Stitch World - - NEWS TRACK -

Sil­ver Spark Ap­parel Ethiopia, a wholly-owned sub­sidiary of Ray­mond, In­di­a­based tex­tile and ap­parel con­glom­er­ate, has cut the ribbons of its Green­field gar­ment man­u­fac­tur­ing fa­cil­ity at Hawassa In­dus­trial Park (HIP) in Ethiopia. The in­au­gu­ra­tion was done by Haile­mariam De­salegn, Prime Min­is­ter, Ethiopia along with Gau­tam Hari Sing­ha­nia, Chair­man & Man­ag­ing Di­rec­tor, Ray­mond Ltd.

The state-of-the-art gar­ment man­u­fac­tur­ing fa­cil­ity will pri­mar­ily cater to the US and Euro­pean mar­kets and is ex­pected to gen­er­ate em­ploy­ment for over 2,500 peo­ple in the first phase. The work­force em­ployed at this unit will be duly up-skilled by the highly ex­pe­ri­enced ex­pa­tri­ate team from In­dia.

With an in­vest­ment of over Rs. 100 crore, the new fa­cil­ity is an epit­ome of Ray­mond’s aim to ex­pand its pres­ence across in­ter­na­tional mar­kets. This ca­pac­ity ex­pan­sion will mark the com­pany’s en­try among the top five lead­ing suit man­u­fac­tur­ers in the world. Com­ment­ing on this strate­gic move, Gau­tam stated, “With a clear di­rec­tion of ca­pac­ity aug­men­ta­tion, we con­tinue to stay com­mit­ted to Make in In­dia and have in­vested in a Green Field project. It is a strate­gic de­ci­sion to set up a gar­ment man­u­fac­tur­ing unit in Ethiopia to mit­i­gate our risk as far as our ex­ports are con­cerned. Reck­oned for pro­vid­ing high­est qual­ity prod­ucts, Ray­mond has earned the trust and re­spect of em­i­nent brands across USA, Europe and Ja­pan. In our en­deav­our to en­sure price com­pet­i­tive­ness, Ethiopia makes a com­pelling busi­ness case and en­ables us to serve our in­ter­na­tional cus­tomers. Lever­ag­ing the skill sets of gar­ment man­u­fac­tur­ing fa­cil­i­ties on the do­mes­tic front, which are ac­quired over a pe­riod of time, this quan­tum leap into an in­ter­na­tional lo­ca­tion for man­u­fac­tur­ing has been trig­gered by both core com­pe­tence and busi­ness con­sid­er­a­tions.”

The duty-free ac­cess to key ex­port mar­kets such as the US and Europe pro­vides the op­por­tu­nity to Ray­mond to be glob­ally price-com­pet­i­tive by set­ting up a plant in Ethiopia. In ad­di­tion to this ben­e­fit, The Fed­eral Demo­cratic Repub­lic of Ethiopia of­fers man­power at a highly com­pet­i­tive rate, ex­ceed­ingly sub­si­dized power, ready­made in­dus­trial sheds that con­sid­er­ably re­duces cap­i­tal ex­pen­di­ture.

In­au­gu­ral cer­e­mony of Sil­ver Spark Ap­parel, Ethiopia

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