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Pearl Global Industries Ltd.

BSE: 532808 Sector: Industrials
NSE: PGIL ISIN Code: INE940H01014
BSE LIVE 19:40 | 19 Oct 148.35 -0.10
(-0.07%)
OPEN

152.90

HIGH

160.00

LOW

148.10

NSE 19:31 | 19 Oct 148.95 -0.30
(-0.20%)
OPEN

149.25

HIGH

152.00

LOW

146.70

OPEN 152.90
PREVIOUS CLOSE 148.45
VOLUME 554
52-Week high 180.95
52-Week low 110.00
P/E 75.30
Mkt Cap.(Rs cr) 321
Buy Price 148.35
Buy Qty 25.00
Sell Price 0.00
Sell Qty 0.00
OPEN 152.90
CLOSE 148.45
VOLUME 554
52-Week high 180.95
52-Week low 110.00
P/E 75.30
Mkt Cap.(Rs cr) 321
Buy Price 148.35
Buy Qty 25.00
Sell Price 0.00
Sell Qty 0.00

Pearl Global Industries Ltd. (PGIL) - Company History

House of Pearl Fashions Ltd is a multinational, ready to wear apparel manufacturing conglomerate. The company is operating in three distinct business streams namely manufacturing, marketing and Distribution and souring of garments. They also provide supply chain solutions for the fashion industry globally along with warehousing & distribution networks in the UK & US. The company conducts their business through their subsidiaries in India as well as overseas. They are having 15 subsidiaries that operate in India, US, UK, Hong Kong, Indonesia and Bangladesh. The company product offering includes various kinds of knits, woven sweaters and bottoms in the men, women and kids wear categories. They are servicing 82 retailers across the globe with a healthy spread between USA, Latin America & Europe. Some leading customers include GAP, JC Penney, Banana Republic, ASDA-Wal-Mart, Kohl's, Esprit, Next to name a few. The company has marketing and distribution offices in UK, US and Hong Kong. These offices oversee the marketing and merchandizing teams across Canada, Europe, Hong Kong, UK and US. The company has developed their own brands, DCC and Kool Hearts in US. They also own warehousing and processing units in UK and US with a combined capability to handle two million garments per month. These warehouses have processing facilities and local distribution infrastructure. Also, the company has fabric development centres in China and India as well as design and product development teams in India, UK, US and Hong Kong. House of Pearl Fashions Ltd was incorporated as a private limited company under the name Minia Estates Pvt Ltd on July 5, 1989. The name of the company was changed to House of Pearl Fashions Pvt Ltd on May 9, 2006. The company became a public limited company of June 28, 2006. In June 1988, the company established their international presence by incorporating Norwest Industries Ltd in Hong Kong which is engaged in the trading of garments. In the year, they set up a sourcing office in China in the same year. In October 20036, Pacific Logistics was incorporated in UK which is engaged in the business of logistics and warehousing. In May 2004, Nor Pearl and Norp Knit were incorporated as the subsidiaries in Bangladesh which are engaged in the manufacture of knit garments for export. In the year 2005, they set up a sourcing office in Bangladesh. In March 2006, Global Textiles Group was incorporated in Mauritius. In July 2006, House of Pearl Fashions US Ltd was incorporated in USA which is engaged in trading of garments. During the year 2006-07, Pearl Global Ltd, the subsidiary company set up a new state-of-the-art bottom manufacturing facility in MEPZ Chennai and acquired an existing knits & woven facility in Gurgaon with a capacity of 3 million pieces each per annum. The company also acquired a new warehouse in Milton Keynes, UK. During the year 2007-08, the company acquired 50% stake in the UK based marketing company, FX Import Ltd through their UK subsidiary Poeticgem Ltd to penetrate high fashion mid segment apparel retailers. They also set up a subsidiary in Hong Kong, Zamira Fashion Ltd to target high end fashion retailers in Europe, especially in the French market. The company won the best Corporate Social Responsibility award from JC penny, one of their main customers during the year. In January 2008, the company signed a Memorandum of Understanding (MOU) to acquire 75% stake in the Hong Kong-based marketing company, Simple Approach Ltd inorder to expand their customer base into high fashion mid market segment. In August 2008, LERROS Fashions India Pvt Ltd, a Joint Venture with LERROS Moden Gmbh, Germany, launched their first store in India.