Pearl Global Industries Ltd.

Pearl Global Industries, earlier known as House of Pearl Fashions incorporated as Mina Estates Private Limited on July 5, 1989 under the Indian Companies Act, 1956, as amended. The name of the company was subsequently changed to House of Pearl Fashions Private Limited by a special resolution of the shareholders of the company at an extraordinary general meeting held on May 9, 2006. The fresh certificate of incorporation consequent upon the change of name was granted on June 19, 2006, by the Registrar of Companies (RoC), Delhi and Haryana, located at New Delhi. The company became a public limited company pursuant to a special resolution of the shareholders of the company at an extraordinary general meeting held on June 28, 2006. Pursuant to this special resolution, the name of the company was changed to House of Pearl Fashions Limited. The certificate of incorporation to reflect the new name was amended on July 31, 2006 by the RoC. In 2012 the company has changed its name from House of Pearl Fashions Ltd. to Pearl Global Industries Ltd.                                         "

House of Pearl Fashions is a multinational ready to wear apparel manufacturing conglomerate. The company also provides supply chain solutions for the fashion industry globally along with warehousing and distribution networks in the UK and the US. They currently operate in 11 strategic locations and six continents, leveraging the strengths of each country in creating a strong value for its clients. They provide global supply chain solutions for the fashion industry. They have a complete control on the entire value chain from design and development, manufacturing or sourcing till offering a range of pre-retailing services, warehousing and delivering at the door step on a call off basis. On October 24, 2000, pursuant to a scheme of merger approved by the Delhi High Court, the company acquired the properties, rights and claims of Seth Real Estates, Passion Estates, India Watch Company, Atlanta Estates, Pearl Housing (India) and J R Apparel and the Transferor Companies merged with and into the company effective April 1, 1999. They have teams of international designers working in New York, Los Angeles, London, Hong Kong and India, who are constantly looking at the latest fashion trends, exchanging ideas and feeding design inputs to all its offices across the globe. They manage two brands Kool Hearts, DCC in the United States of America. The brand Kool Hearts focuses on the young fashion, whereas the focus of DCC is more towards Missy segment.

Milestones:

1987 -

• Pearl Global started operations

1994 -

• Pearl Global lists at the BSE, NSE, DSE and ASE

1998 -

• Establishment of international presence with incorporation of Norwest Industries in Hong Kong

2002 -

• PT Norwest, Indonesia started production setting up of sourcing office in China
• Setting up of sourcing office in China

2004 -

• The company acquired import and distribution businesses in the US.and the UK and also consolidated overseas entities

2005 -

• Setting up of sourcing office in Bangladesh
• Nor Pearl and Norp Knit, subsidiaries in Bangladesh commenced operations

2006 -

• Reorganization of group companies and consolidation of operations under House of Pearl Fashions Limited
• HoP (US), new subsidiary incorporated in the US.

2007 -

• The company’s subsidiary signs a Collaboration agreement with DLF Retail Developers Ltd. for development of its real estate property situated on prime location on NH-8, Gurgaon, measuring 9.20 acres.
• The company’s subsidiary ventures into into real estate, infrastructure and education activities.
• House of Pearl Fashions announced that it has acquired FX Imports, UK based import and distribution company through is subsidiary Poetiegem UK. FX Imports, is a supplier to the mid market fashion retailer. 
• House of Pearl Fashions has bagged orders for $ 7.5 million, Rs 30 crore approx., from US buyers, including JC Penney/H & M/GAAP/KOHLS. This is a substantial growth over the last financial year, as these orders are equal to the entire year of sales for this division. 

2008 -

• House of Pearl Fashions has through Multinational Textiles Group, Mauritius, a wholly-owned subsidiary of the company, entered into a Share Purchase Agreement for acquisition of 38% of ordinary shares of Nam Long Garment Joint Stock Company, Vietnam.
• Multinational Textiles Group, Mauritius, a wholly-owned subsidiary of our company, has entered into an agreement for purchase of 1,87,500 ordinary shares of Re 1 each (being 75% of the issued ordinary shares) and 31,90,000 redeemable preference shares of Re 1 each (being 100% of issued preference shares) of simple approach, Hong Kong.

2009 -

• House of Pearl Fashions’ subsidiary company, Nor Pearl Knitwear, Bangladesh, is in the process of restructuring its business due to problems it has faced in executing orders for the past 3-4 months. This entails in a temporary closure of its manufacturing facility till June 30, 2009, located at Comilla Export Processing Zone, Comilla, Bangladesh. The management will in due course review its decision of closure of factory. 
• House of Pearl Fashions through its subsidiary, House of Pearl Fashions (US) has signed a Multi-Year License Agreement with Geoffrey Beene, LLC for Mens's Casual Slacks, Casual Shorts and Dress Slacks under Geoffrey Beene Label. 

Products:

• Men's Wear 
• Women's Wear 
• Kids Wear

Business Divisions:

• Design and development - Over 30 designers working across the group constantly provide latest design inputs on latest design trends internationally and presentation of product ideas from across the globe gives the buyer a sense of cross-country styles of trends. It has got dedicated fabric development and sampling unit in China and India.
• Manufacturing - It is currently operating ten modern ready to wear apparel manufacturing facilities, of which seven are located in India, two in Bangladesh and one in Indonesia.
• Sourcing - Hong Kong is one of the biggest hubs for garment sourcing across the world.
• Marketing - It has integrated marketing and merchandising teams in Canada, Europe, HK, UK, and US, closely interacting with existing and potential customers at their doorstep.
• Logistics and warehousing - The company has warehousing, logistics and distribution infrastructure in the UK and the US. It also offers services such as - logistics and transportation, garment processing, Ironing and storage, quality control and reverse logistics.

Subsidiaries:

India

• Pearl Global, North India
• Pearl Global, South India

Bangladesh

• Norp Knit Industries
• Nor-Pearl Knitwear
• Norwest Industries

UK

• Poeticgem
• Pacific Logistics

Canada

• Poeticgem, Canada 

Hong Kong

• Norwest Industries
• Norwest Industries, simple approach

China

• Norwest Industries

USA

• Depa International Inc., New York
• House of Pearl Fashions US
• Depa International Inc., New Jersey

Indonesia

• PT Norwest Industries

Clients:

• Walmart
• TESCO
• Banana Republic
• NEXT
• LeeCooper
• Primark
• Springfield