Tom Tailor store Stuttgart
07 Nov. 2011
TOM TAILOR BUNDLES PURCHASING ACTIVITIES IN ASIAHamburg-based lifestyle company Tom Tailor has established a joint purchasing company, Tom Tailor Sourcing Ltd., with its long-standing partner Asmara International in order to directly control purchasing activities in Asia in the future. The joint venture was set up with effect from November 1, of this year with Tom Tailor being the majority shareholder with a 51% share. The new company is based in Hong Kong and draws on the infrastructure and regional expertise of Asmara International.
“The situation on the Asian procurement market has become increasingly tight in recent years as the level of competition for capacity is rising. Creating a stand-alone presence in the region represents an important competitive advantage in efforts to safeguard swift and optimum access to the necessary production capacities,” explains Dieter Holzer, CEO of the Tom Tailor Group. “The joint venture represents a logical strategic step in order to optimise and control directly the local cooperation with and advising of suppliers in Asia.”
Tom Tailor currently obtains around 90% of its products from Asia, with production taking place primarily in China, Bangladesh, India and Indonesia.
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