Dawood Lawrencepur Limited (DLL) has decided to abandon the famous menswear brand, Lawrencepur, to the associated company Sach International Limited against Rs. 81.5 million.
According to the stock filing, the board of directors of the company has approved the disposal of Lawrencepur brand to the associated company.
Seemingly, the sale and purchase deal also includes the transfer of operations to Sach International Limited however the control will remain in the hands of the previous directors who belong to the Dawood family -Shahzada Dawood, Abdul Samad Dawood, Ayesha Dawood, Shafiq Ahmed, etc.
Lawrencepur started its operations in 1954 with the aim of creating a global brand name in men’s wear. The brand has a presence in all major cities through its outlets in big shopping centers.
The buyer of the brand, Sach International, is a listed company in the textile sector and located in Lahore Pakistan.