The world's second largest jeans maker Carrera Jeans of Italy on Saturday said it would invest $250 million in India in various textile related projects including setting up of a garment processing unit at Solapur and a textile engineering facility at Kolhapur.
The textile engineering facility would be a 50:50 joint venture between Carrera and Belgium-based Picanol to produce the world-class weaving looms for the Indian and export market, a top company official said.
The Italian major's plans also include setting up 50 retail stores in India in the next two years besides bringing together the textile clusters in the country into a confederation to help them sell products through Carrera's retail stores across the world, Vivek Jacob, chief executive officer of Carrera Jeans, said .
The proposed investment would create direct employment to 4,000 people and indirect jobs to another 13,000 people over a period of five years, he said.
Carrera, which has been sourcing textile products such as knit wears, shirting and embroidery products from India since 1975, would buy 50 per cent of produce from the confederation formed from the textile clusters based at Tamil Nadu, Andhra Pradesh, Maharashtra and Karnataka, the India-born CEO said.
