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The new bullishness of the company comes in wake of the removal of the quota restriction on textiles. |
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The company currently sources clothing like shirts and suit tops for ladies, knitted items, sleep wear and carpets from India. In garments the company buys T-shirts, men's suits, blouses, denim bottoms, and sports jackets from India. |
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"India offers high quality and cost effectiveness for JC Penney. The company will be increasing its sourcing budget to $800 million by 2009 from the Indian region that include Bangladesh and Sri Lanka. Indian skill set is world class both in fashion and technology," he said. |
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"JC Penny is looking at vendors who can offer material at a competitive price in all situations," he said. |
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JC Penney is the second largest departmental store in the US after supergiant Wal-Mart. The company has tie-ups with over 30 vendors across the Indian region. |
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