House of Pearl to take 75% stake in HK firm

 Simple Approach is present in over 10 countries, and provides design and development-to-delivery services to customers.

 According to a release issued by House of Pearl Fashions to the BSE today, the acquisition will benefit the company in expanding its customer base into the high fashion mid-market segment.

 Simple Approach supplies to value and mid-market retailers in the UK and the USA, and is expected to post revenues of Rs 80 crore in the current financial year. This is expected to grow to Rs 100 crore in financial year 2008-09 and Rs 200 crore by financial year 2010-11.