Tata buy German shoe brand

Tata International have bought German shoe brand, Ornig, from a private company for an undisclosed sum. President of Tata International's leather division, O K Kaul, confirmed the deal but refused to divulge the amount. Tata's strategy is to first piggy back on Ornig's brand recognition in Germany and Austria and then branch out in other European markets. Tata have not bought Ornig's manufacturing facilities since production costs are very high in Germany. 'The same pair can be made in India at half the cost', sources said. The leather division of Tata has the capacity to make 4,000 pairs every day. Sources said Ornig will make a foray into India after Tata's domestic shoe brand. Source: Daily Economic Times, New Delhi