PGC increases stake in Switcher from 51% to 86%

PGC Corporation which recently changed its name from PGC Textile Corporation to just PGC Corporation has increased its stake holding in SWITCHER HOLDINGS SA head office out of Switzerland . Switcher has more than 1500 corporate customers and 1300 retail POS with more than 70 exclusive stores in Swiss and Europe . PGC Acquired 51% stake earlier in 2010 and out of the structured deal , it has increased its ownership from 51% to 86% today . PGC has also launched Switcher's sub brand WHALE in the USA and is selling over 150000 units per day in the American Market via PremDurai Imports USA Inc . With more deals such to be in pipeline , PGC has also announced the launch of Switcher Undergarment range for the Indian market which will touch more than 2000 counters in less than 6 months period .

PGC also plans to increase its production capacity shortly where the announcement will be made in the coming month .

Switcher re-launches its online shop !!!

Switcher has been having an online shop for nearly a decade now . It re-launched its online shop with a new look early this year .

Switcher.com / Switcher.com today delivers only in Switzerland but due to the customer requests flowing more and more recently , Switcher announced that Switcher.com will be able to deliver across Europe shortly before the end of this calendar year .

Switcher also has Swiss Olympics collection and 100% Swiss in its online store . 

PGC Corporation !!!

PGC announced its name change from PGC Textile Corporation to being in the future known as PGC Corporation this June 2012 .

PGC been having a constant growth over 50% for the past 5 years , announced its name change of the company .  Being vertically integrated , it has plans to increase its internal capacity to optimise its production this year .

PGC also subsequently acquired more shares in Switcher and increased its holding on Switcher from 51% share holding to 86% shareholding now .

PGC also launched Whale (Switcher's brand) in the USA recently and has said it has shown good response in the year .

PGC also announced that its Undergarment range of Switcher will shortly be launched in India as the pilot project became a success after trailing in 200 pilot POS (point of sales) done in early 2012 in India .It said that the production is on now and PGC will enable Switcher products to be available in more than 2000 counters before the end of this financial year .

Switcher Turns 30 !!!

PGC Textile Corporation last year acquired 51% of Switcher Holdings SA based out of Switzerland . Switcher celebrated its 30th Successful year last month and the even had its major 800 customer participated . Mr.Robin the Founding Chairman of Switcher and Mr.Aadith Vikram the Vice Chairman of Switcher & PGC along with Mr.Prem the Chairman of PGC Textile Corporation , Mr S.Duraiswamy the Founder of PGC where also there at the event .

Robin talks on Ted - Know the Source !!!!

Robin Cornelius talks on Ted about how products are made . He emphasizes on the most important topics that knowledge is wisdom . Should people know what they consume / use . ?????


See it yourself ++++
( CLICK HERE -----
http://tedxzurich.com/2010/10/18/robin-cornelius-wants-to-make-clothing-traceable/ )

Robin Cornelius is founder and chairman of Switcher, a Swiss textile company. Today, he co-owns the company with PGC (Prem Group), Switcher’s Indian partner for almost three decades. Switcher cooperates with Fair Wear Foundation, Max Havelaar, myclimate, Öko-Tex and other standard setting organisations. As an industry pioneer, the company has developed CO2 and H2O indexes for textile products. The online transparency service respect-code.org was launched in 2006.

Tell us the story of your latest project. What has been occupying you in the last 6 months?
After 30 years in textile business analyzing the development of the global economy, the appearance of new concern about the planet will require a new ethic of the end consumer. This led me to write about that on a book that will go out next spring. The idea we would like to bring to TEDxZurich is about traceability. It is important because with the renewal of technology information there is no reason that the end consumers have no access to any kind of info regarding consumer goods or services.

It’s important for me that bringing total information to end consumers through DNA code will allow him to decide with his own consciousness if the act of purchasing this product is in accordance with his values (social and environmental conditions for instance).

The impact will be global and huge. In the next generations we will not be able to afford any waste of resources nor tolerate any kind of lack of respect in terms of workers’ social conditions. I strongly believe that this is my mission for the second part of my life.

PGC Acquires Substantial Stake in European Retailer Switcher Holdings SA (Global)

Tirupur (Tamil Nadu ,India) based PremDurai Exports Private Limited (Garment Export wing of 400 Cr PGC Industries & Group ) acquires controlling interest strategic stake in Switcher Holdings SA (Owner and Retailer of Brands : Switcher , Respect , Whale ) .
PGC was founded in Nov 11th 1983 by S.Duraiswamy . today the company is lead by two brothers D.Prem the Chairman (CMD) and Aadith.D.Vikram the Vice Chairman(VCMD) . PGC is vertically integrated from Cotton Spinning to garment Exports employing nearly 8400 people across its group companies .The group has been achieving an average growth of 60% in the last four years.
Back to the Roots :
PGC has always been a manufacturer for Switcher for nearly 3 decades and the founder of PGC Mr.S.Duraiswmay and the Founder of Switcher Mr.Robin Cornelius have always been close friends too since the 80’s . PGC has for more than a decade had the retail license for Switcher in India . Towards the end of last year (2009) PGC explored the possibility to acquire stake in Switcher Global Retail Operation (Switcher Holdings SA) and in July 2010 , PGC closed the deal .
Now a “C2C” Group :
PGC retails has been started aggressively looking on retail only for the past year and in one of expansion has opened 75 T-Mart Super Stores and has launched a new brands for the Indian market “Respect India” for mens , “Babyloons” for Infants wear apart from its Switcher Indian Retail Operation .
Talking to the Chairman Mr.Prem he said,“PGC has been supplying to Switcher for nearly 25 years now and we felt it was the right time for us to make a move to acquire stakes in Switcher Global". Post acquisition we project group topline to hit 640 cr (aprox 150 million usd) for year ending 2010-2011. The acquisition the stakes in Switcher Group would benefit Switcher Global as costs can be bought down across various cost centres like warehousing , IT, logistics , product design and development etc.” Mr.Prem also added that Mr.Aadith.D.Vikram (the Vice Chairman) of PGC Industries & Group is now appointed also as the Vice Chairman of Switcher Group along with Mr.Robin Cornelius as the Executive Chairman of the Switcher Group . The other directors are Mr.Prem Duraiswamy & Mr.Jerome De Meyer .
Financials of the Deal :
The Management of PGC did not disclose the financials nor the percentage of shares acquired of the deal but thanked its bankers , lawyers , auditors & m&a consultants for helping to close the dea successfully .The only disclosed information on the new ownership & management was that now the 100% share of the company was held jointly by PGC & Mr.Robin Cornelius held together and that the stake from the other past equity investors where bough over too from the past financial investors in Switcher Group as a portion of the deal . PGC now is said to hold substantial Stake in Switcher Group .
About Switcher :
“Switcher has its presences in Switzerland, Germany, France, Austria and in other European countries. Being a Swiss based brand , Switcher sells approximately 7 Million garments in Switzerland alone and has a brand recall of 92% population of Switzerland and more than 360 Stores , Corners & Point of Sales in Retail and half the business comes from corporate textile solution where the brand is said to have a strong hold ,” said the Vice Chairman Mr.Aadith.D.Vikram .

• Over 300 Point of Sale & 60 Exclusive Stores in Switzerland .
• Over 1150 Corporate Clients in Switzerland , France , Spain , Netherlands , Denmark , Sweden , Norway , Finland , Italy , Dubai and other parts of Europe ) .
• Supplies from Over 30 Suppliers & 8 Counties where manufacturing takes place ( Portugal , Slovakia , Turkey , Romania , India , Bangladesh , China and Taiwan ) and some sourcing directly or indirectly also from (N.Zealand , Mali , Indonesia , Korea & Pakistan ) .

Expansion of Switcher :
Mr.Aadith.D.Vikram added “ We are in the process of drafting a plan for expansion of Switcher India retail expansion which will be implemented soon in the coming months in 2011. A total revamp will be made to Switcher in India with a new look and feel like our Swiss exclusive stores and Store in Store Concept. We are also planning to expand Switcher in more European countries to increase our presence and network and specifically looking to expand in Germany , Norway & Sweden in the coming years“.
For more information http://www.pgcindustries.org/ & http://www.switcher.com/

Durai Charitable Trust - PGC

Durai Charitable Trust founded by S.Duraiswamy (Founder of PGC Industries and a Member & Award winner of Social Accountability International) & Trustees D.Prem & Aadith.D.Vikram is focused on the upliftment of the deprived by enabling and empowering them. The trust is a Not-For-Profit organization. Guided by basic principles of promoting sustainable development, the Trust focuses on improving the Human Development Index through initiatives in achieving the United Nations Millennium Development Goals (MDG).

The trust aims at poverty alleviation through empowerment of rural and semi-urban youth by creating capacities and empowering the youth by facilitating job oriented skills. It believes that harnessing the untapped potential of this sizable section of the society can bring about the socio-economic transformation in the country.

The trust understands the need of consortium approach for faster, better results and is already in partnership with Prem Durai Exports, Switcher, T-Mart, Respect India, Beausoleil for project implementations.

The successful projects at Tirupur include


Free Water Supply for Poor every day,


YES (Youngster Education Support) program imparting vocational skills of Textile Industry like Tailoring. Also facilitates Computer Skills and library for rural and semi-urban youths.


Other projects are Universal education mission - Free schools for poor and Free Mobile schools for deprived


Health Camps and Clinique across Tirupur for all mission which conducts eye camps, free dispensaries, AIDS awareness project - distribution of free condoms and campaigns,


Environment sustainability mission of Green energy by wind mills and solar cooker for rural villages of TN, 25000 Tree Planting, VelaiSMS project to facilitate empowerment of digitally challenged communities by "Information empowerment".