GRI buys leisure wear line

GRI buys leisure wear line

SINGAPORE (Reuter): Indonesia's PT Great River International
(GRI) said yesterday its unit Apparel World of Singapore bought a
leisure wear line from Ossia International.

It said in a statement the acquisition of the GFF Gianfranco
Ferre line and the takeover of a boutique in Singapore shopping
district Orchard Road cost Apparel World, which is its
distribution and retailing arm, Singapore $1.6 million.

It planned to open three shops a year in Singapore over the
next three years, or a total of nine shops.

Each shop was estimated to cost S$1 million, with the total
cost being around S$9 million, it said.

The group already has marketing rights for Gianfranco Ferre
and the GFF line in Indonesia and Malaysia, it said.

Industry sources told Reuters Ossia was divesting the line
because of plans to concentrate on sports wear and merchandise.