Naru Exports acquires Italian co, plans for new outlets by 2012

Chennai-based Naru Exports has acquired a major share in Italy’s CIAO World SRL, a garment retail company. Naru will be the 100 percent sourcing agent for CIAO till the end of December this year and from January 1, 2011, it will take over the operations of CIAO. CIAO has 100 retail outlets in Italy and Switzerland and has three garment labels. It sells textile products for men, women and children. It was sourcing its garment needs from Bangladesh, China, Sri Lanka, India and Indonesia so far. Naru Exports, owning garment facility in Tirupur, plans to have its retails outlets in India by 2012. The company’s next level move is for a tie-up with the Italian brand Irge. When the Italian companies mark inroads to the indian retail sector, signage companies engaging in in-store sector will find a new delight to tap a new business.