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PDS’ arm plans to acquire additional 11% stake in Upcycle Labs
Mar-30-2023

PDS’ subsidiary -- PDS Ventures has proposed acquisition of an additional equity stake of 11% in Upcycle Labs (Investee Company), a Company incorporated and registered in England and Wales. Post acquisition as aforesaid, the shareholding of PDS Ventures in Investee Company increased to 61%. Cost of acquisition is Rs 1.49 crore.

The investment is in line with the Sustainability, Circularity and ESG goals of the Company. Through this investment, the company foresees to be able to provide its customers a complete sustainability and end of life solution (from takeback to resell to upcycle) for all fashion products. It would help alleviate major pain point of fashion brands with respect to the sustainable solution to excess inventory to be upcycled to create a new product providing fashion houses with a socially and environmentally friendly solution.

PDS is a design-led organisation and its talented design teams offer exceptional product development and design services customised to retailers’ requirements.

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