Donear Group on Tuesday announced the acquisition of the Mayur Fabrics and PV Suiting Global distribution network from RSWM, with the aim of strengthening its full product basket and further land expansion. The textile company, however, did not disclose the terms of the transaction.
The acquisition, the third by the group in the last three years, will help Donear grow the Mayur brand by focusing on the group’s strengths in producing and distributing high quality fabrics, the release said. In addition, a strong product presence in services and uniforms will help Donear Group’s faster production facilities and power delivery network, the release said.
In addition, the PV Suiting distribution network from RSWM’s presence in overseas markets will help increase Donear’s limited market share as a group, it said. The PV Suiting distribution network from RSWM has found long routes in the UK and the Middle East that will serve as a catalyst for the team to become more resilient in these regions, he added.
We are pleased to announce the acquisition of Mayur Fabrics and PV Suiting distribution network from RSWM. … Encourages us to focus on our businesses – ropes and textiles respectively, said Rahul Rajendra Agarwal, Director, Donear Group. We find ourselves committed to further building on Mayur’s product and making it an integrated brand of Donear Group and striving to take it to the next level of success, he said.
Also read : Shoppers Stop Sellers sell Crossword Bookstores to their Agarwal Business House employer
Agarwal said the group aims to grow stronger with Mayur and PV Suiting Distribution Network on its side, adding, this reliable and sustainable supply will serve as our next big engine to grow our portfolio and expand the market share of branded textile brands. In addition to being widely available in India, Donear has a strong presence in more than 30 countries as well.
With a complete product basket, the company offers fabrics to major home brands such as Louis Phillipe, Van Heusen, Peter England, Blackberry, Arvind, Wills Lifestyle, Future Group, among others. In the retail market, it has a strong network of more than 265 stores, marketing fabrics under D’Cot & Donear NXG products with good cash flow.
We have given ourselves a vision for continued growth and are working on it as a team and as a family says Rajendra Agarwal, Facilitator and Executive Director, Donear Group. The group has a large market share with other brands such as GRADO & OCM under which it operates, said Ajay Agarwal, Executive Director, adding that having a distribution network for Mayur Fabrics and PV Suiting, will present us as a titanium of textiles and clothing, empowering customers and a network of vendors.
Also read : Bangladesh restarts flights to India from October 28 under ‘air bubble’ arrangements
The addition of Mayur and PV Suiting Distribution Network is driven by our desire to expand our business to both pan India and global markets. After the inauguration of Mayur in our group, we expect improvements in the existing distribution process and market value of our organization, he said. Mayur Brand is now part of the Donear Group. We would not have found a better organization than Donear to pass on our inheritance to. I am very excited about this change, said Riju Jhunjhunwala, Managing Director and CEO, RSWM. Mayur Brand is now part of the Donear Group.
Also read : Trading commission halved in Abu Dhabi, second cut this year
The group said it was continuing to explore larger markets that could be catered for with more product categories.
