Grabal Alok hikes equity stake in Hamsard to spur garment export

摘要

Grabal Alok Impex Limited(Grabal),part of the Rs 4000 crore Alok Group and manufacturer of embroidered products is increasing its stake in Hamsard 2353 Ltd(Hamsard),a UK-based retailer,to 75% from the current 26% for a consideration of GBP 10 million.Hamsard has around 207 retail" outlets across England,Scotland and Wales and sales of about GBP 110 million.Hamsard currently sources about 80 per cent of its garments from in and around the UK,and the balance from countries like India and China.