Mauritius-based Aquarelle India to invest Rs. 100 crore for new unit.

Mauritius-based Aquarelle India, engaged in manufacturing men's casual shirts, is planning to invest Rs. 100 crore to set up a new manufacturing unit outside Bengaluru, a top executive said.

Talking to Deccan Herald, Aquarelle India Deputy Executive Director Nagesh Badida said, 'As of now, we have four units in Bengaluru (two in Jigani industrial area, one each on Bannerghatta Road and Hennur Road), employing around 2,500 people. We are planning to set up a new unit outside Bengaluru. We are awaiting final approvals, as the project has been delayed by almost a year. We are planning to invest Rs. 100 crore in the current financial year.'

Aquarelle, which is part of CIEL, formerly known as Deep River Investment (DRI), follows the July to June financial year. The company aims to hire 2,500 people by setting up a new unit. The new unit, to be spread over 5.5 acres, will feature 850 buttonhole sewing machines.

The company currently has the capacity to produce 3.5 million shirts per year and plans to double the capacity within two years. 'We aim to position ourselves in the upper segment of the market, catering to brands like Diesel, CK, Tommy, Esprit, Ben Sherman, etc. by investing in the design-to-deliver concept,' Badida added.

Asked why they are moving out of Bengaluru, Badida said, 'The attrition rate is higher in metros when compared with small cities. We lose almost 1,000 people for every new shopping mall. We also hope to get more labour by moving to labour captive areas.'


DECCAN HERALD