· Group to invest $ 13 million over a span of 3 years to expand its Operations in the Middle East
· AMIDT Group will have exclusive franchise and development rights for the Middle East countries.
· AMIDT Group would later take this brand into South Asia and India through its group company I Retail CO.
· AMIDT Group ventures into exclusive Menswear business
India, March 2017 (GPN) : The AMIDT Group today announced its strategic alliance withtheleading French Menswear brand “DEVRED 1902”. To build this brand,AMIDT Group would invest $ 13 million over a span of 3 years in setting up stores andin joint development of the brand. The AMIDT group which has diverse business sectors will beopening up retail stores for DEVRED 1902 across the Middle East apparel market. The business model will be through an exclusive franchise and development partner routein these countries.
DEVRED 1902 is a 100 year old and a well renowned Frenchluxury menswearbrand with a unique concept of customized tailoring, excellent quality of product and a style that matches all tastes. Under this agreement, the AMIDT group will open an expanded network of stores across the Middle East.
The retail stores would be strategically placed in various Middle Eastern countries where DEVRED 1902 is not present. DEVRED 1902which specializes in customized tailoring for Menswearprovides a wide range of comfortable, creative, innovative, sustainable and contemporary menswear fashion across its 325 stores globally. Their wide range of products cover all aspects of Men’s fashion wear which includes T-Shirts, Trousers, Shirts, Vests, Jackets, Suits and accessories like scarves, shoes and bags. After setting up its Middle East operations, the group will venture into South Asia and India with their group company I Retail CO.
Mr. Alireza Moghaddam, Chairman, AMIDT Group said, “DEVRED 1902 offers us the opportunity not only to set up stores but also act as a development partner in the Middle East.With this strategic tie-up, we will not only offer contemporary range of high-quality menswear but also the development aspect is a value add for both the partners. Here DEVRED 1902 would share its know-how in tailoring and the secret for long lasting success in bringing the best quality menswear range to the Middle Eastern countries.”
Mr. Philippe Barbry, CEO, DEVRED 1902 said, “With this partnership, we are not only looking at a franchise selling model but working on a joint development model, wherein our experts will be closely working with AMIDT and there would be a two way exchange of information.AMIDT with its strengths in the Middle East would add value to DEVRED 1902”.
AMIDT group is a diversified conglomerate in the field of infrastructure, automobile components, retail, packaging, consulting, and minerals and metals and with this tie-up, the AMIDT Group has ventured into the apparels business, adding one more asset to its diverse business sectors. Ends.