Digjam enters into JV with Holland & Sherry

Chennai, Sep 22 (IANS) Textiles major Digjam Ltd on Tuesday said it has entered into a joint venture with Scotland’s Holland & Sherry.

In a <strong class=’StrictlyAutoTagBold’>statement issued here, Digjam said in an endeavour to expand its textile <strong class=’StrictlyAutoTagBold’>business and cater to the evolving <strong class=’StrictlyAutoTagBold’>market trends, the company has formed a joint venture with Holland &amp; Sherry cloth merchants.

“We strongly believe that this venture will help us cater to the evolving <strong class=’StrictlyAutoTagBold’>market trends and customer needs, in addition to giving a new fillip to our existing clothing and fashion business, both domestically and internationally,” managing director and CEO C.Bhaskar was quoted as saying in the <strong class=’StrictlyAutoTagBold’>statement.

According to him, with industry research reports predicting a strong growth buoyed by both strong domestic consumption, as well as export demand, the Indian textile industry is expected to reach $ 220 million by 2020.

Digjam targets to increase its turnover this fiscal to Rs.300 crore from around Rs.160 crore posted last fiscal, the <strong class=’StrictlyAutoTagBold’>statement said.

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