Italian lingerie, swimwear and hosiery manufacturing retailer Calzedonia is investing $20 million in a new factory, situated in the northern Vavuniya province of Sri Lanka.
Operations for the new facility, which, at full capacity, is expected to employ up to 1500 workers, will begin in October 2010.
The factory will be run by Omega Line Limited, a subsidiary of Calzedonia Finaziara, which manufactures products for the Intimissimi, Tezenis and Calzedonia brands for European export.
Calzedonia has operated in Sri Lanka since 1999 and employs 3000 people in the country. It’s total investment in the region, where it already operates two factories, amounts to around $45 million. Its annual exports are valued at $300 million to Italy alone.
The company, founded in 1987, also operates factories in Coratia, Serbia and Bulgaria, with a network that boasts 1300 stores worldwide.