A Mind-to-Market design, brands, and sourcing organization
October 14, 2022, Mumbai: PDS Limited (“PDS”), the global fashion infrastructure company acquires a 51% stake in Delhi-based end-to-end design solutions company, DBS Lifestyle (“DBS”).
DBS Lifestyle LLP, founded by Divya Suri and Bhawnish Suri, is a design-led company catering to fashion and home categories. DBS owns over 20,000 original textile designs and patterns and adds nearly 2500 artworks and samples to its library every month. Their Trend & Design Studio plus Sourcing business verticals collectively offer end-to-end solutions from design, product development, and manufacturing to warehouse delivery. It also creates private brands for leading online and offline retailers, including RIVER – a multi-designer brand for Amazon Fashion. DBS serves over 200 fashion and 150+ home clients globally along with leading brands, retailers, and key e-commerce players in India.
DBS owns the Italian studio Giacomo Barzaghi, one of the oldest and most reputed textile design studio based in Como, Italy – established in 1978. Through this international acquisition, DBS serves its clients in USA & Europe directly. This partnership will also springboard DBS’s seeded and exciting initiatives on design-led sourcing penetration across categories and launch consumer-facing relevant D2C brands.
Bhawnish Suri, anaging Director, is a Fashion Design graduate from Parsons School of Design, New York, with 20+ years of industry experience working with companies like Polo Ralph Lauren and United Retail Inc. in the United States of merica. Divya Suri, Joint Managing Director, has a degree in Fashion Merchandising from the Fashion Institute of Technology, New York, started her career with Macy’s, and later worked with global retailers before joining forces with Bhawnish and starting the company’s Textile Studio.
This transaction creates a win-win for both organizations. On one hand, DBS gains the patronage of the PDS platform for furthering its growth aspirations, on the other hand, PDS gains further access to leading retailers and brands enabling it to further penetrate the fashion and home categories in the Indian market.
Speaking on this association, Pallak Seth, Vice-Chairman, PDS said, “We are thrilled to associate with Bhawnish and Divya who bring with them distinct design-led capabilities. While DBS has already carved a niche for itself in both the domestic and international markets, we believe under the aegis of the PDS platform, DBS is poised to catapult into the next league.”
Sanjay Jain, Group CEO further added, “India has been gaining tremendous traction in the global fashion space, both from a supply and demand standpoint. With this transaction, PDS augments its capabilities in India and further builds our design capabilities for servicing global customers. With DBS’s experience and insights into evolving fashion trends, our partnership will provide customers with quality products, exceptional design, and great value across fashion and home categories.”
Speaking on the transaction Bhawnish Suri, Founder, DBS said, “Divya and I founded DBS with an aim of creating a one-of-a-kind turnkey company offering customized design solutions. In our first phase, we have created a sturdy foundation for DBS, and this partnership will spur our next phase of growth.”
As part of this transaction, PDS will invest ₹21cr (US$2.6mn) in the new entity Pangram Brands Private Limited (“Pangram Brands”). The majority of the proceeds will be used for funding the growth plans of the company and to acquire the existing businesses of DBS. DBS currently has a strong order book and is aspiring to significantly fast pace its growth. The business of the DBS group will be consolidated under Pangram Brands, which will be renamed DBS Lifestyle (India) Private Limited. Investec India and Maple Capital Advisors acted as financial advisors for PDS and DBS respectively. About PDS Limited: (www.pdsmultinational.com) PDS Limited is a global fashion infrastructure company offering product development, sourcing, manufacturing, and distribution for major brands and retailers worldwide. The Company operates a vast global network covering over 50 offices, 22 countries, with over 3,300 associates and 6,500 factory associates worldwide. The Company reported consolidated revenues of ₹8,828cr in fiscal 2021-22, an increase of 1.8x over the last five years. Further, Profit after tax has increased at a 5-year CAGR of 50%, with a ROCE of 38% in 2021-22. The Company is listed on the BSE Ltd. (538730) and the National Stock Exchange of India Ltd (PDSMFL).
