Divergent market strategies and business moves pay
The year 2017 has been a significant one for the Mumbai-based Donear Group. As part of its strategy to consolidate its top position in the Indian textiles industry, the Group acquired key brands and manufacturing assets to further strengthen its leadership position in the global textile industry. In July 2017, as a strategic move that will significantly enhance its profile and addressable market in the global textiles space, the Donear Group acquired Grasim Bhiwani Textile Ltd. (GBTL), the poly-viscose suiting fabrics subsidiary of Grasim Industries.
This acquisition gives the Donear Group a strategic edge in global textiles business in terms of world-class production capabilities to market products and access to the marquee customers globally.
Subsequently, in November 2017, Donear Group made another major acquisition of OCM, which manufactures a variety of high-quality all-wool and wool-blended worsted suiting fabrics. This acquisition will enable the Group to expand its range of products to Indian consumers for all weather conditions and for all occasions. In a win-win deal, OCM gets access to the management expertise of the promoters of the Donear Group to expand its product range and distribution footprint within India as well as in the overseas markets.
Both these acquisitions are expected to further strengthen Donear’s leadership both in the domestic and global textile industry. Flashback
This story is from the March 2018 edition of The Textile magazine.
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This story is from the March 2018 edition of The Textile magazine.
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