Tata Group’s Trent on Tuesday incorporated a new company Trent MAS Fashion as a 50:50 joint venture with Singapore-based MAS Amity, it said in an exchange filing. The new entity will focus on the business of designing, developing and manufacturing intimate apparel and other related products in India.
Both the companies, Trent and MAS Amity, have subscribed equally to 5 lakh equity shares of the new entity at a face value of Rs 10 each, amounting to a total of Rs 50 lakh, Trent said in the exchange filing.
The joint venture company has an authorised share capital of Rs 1 crore, which is divided into 10 lakh equity shares of the company, with each share having a value of Re 1.
The collaboration between Trent and MAS is aimed at deepening Trent’s ability to offer fully owned brands at its retail stores, along with helping MAS to expand its international presence.