PDS Multinational Fashions completes acquisition of stakes in Filkor

The company acquired Filkor through Smart Notch Industrial Limited on September 21, 2021. The cost of acquisition was £500,000.

Sep 21, 2021 04:09 IST India Infoline News Service

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PDS Multinational Fashions Limited has completed the transaction as regards the acquisition of Filkor Limited by the Subsidiary of the Company, Smart Notch Industrial Limited on September 21, 2021. The cost of acquisition was £500,000 (Great Britain Pounds Five Hundred Thousand Only).

“The investment is in line with the Sustainability and Circularity (ESG) goals of the Company. Through this investment, the Company foresees to be able to provide its customers a complete sustainability and end of life solution (from takeback to resell to upcycle) for all fashion products.

It would help alleviate major pain point of customers with respect to the sustainable solution to excess stock and enables the product to be securely destroyed in one single operation, effectively and quickly, providing fashion houses with a socially and environmentally acceptable solution,” company said in a filing on Tuesday.

PDS Multinational Fashions Ltd trade on Tuesday ended at Rs1261.35 per piece, up Rs1.75 or 0.14% on the BSE.

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