PGC Picks Stake in Switcher Holdings SA (European Retail )

Switcher SA, the Swiss pioneer of textile products in a fully transparent environmental and social today announced a strategic change in its shareholding. The Prem Group (PGC, India), Switcher partner for over 25 years, between the capital stock alongside Robin Cornelius. The current financial investors sell their shares.

Robin Cornelius, founder and President of Switcher SA, originally opened its capital to a group of financial investors in 2007. At that time, the company aged 25 years needed a financial and organizational consolidation to cope with market developments and technologies. This transition is complete, investors withdrew their financial commitment, after providing adequate support to the company.

Robin Cornelius said today: "With the founding of PGC, Mr. Duraiswamy, we have built a very strong relationship since the beginning of Switcher. Today, we finally create a direct link covering the whole production chain, from cotton field to the consumer. It is the fulfillment of a common strategy for nearly three decades in terms of environmental and social transparency to consumers. "

Since the establishment of compliance-code.org in 2005 by Robin Cornelius, 17 million pieces individually traceable on the Internet have been sold by Switcher. Cornelius: "Transparency is the core value that we owe it to consumers. With our production partner history becoming a shareholder, the founding principle of Switcher become even stronger. "


http://www.market.ch/fr/economie/details/article/switcher-sa-alliance-strategique-avec-prem-group-en-inde.html