In a strategic move that will significantly enhance its profile and addressable market in the global textiles space, the Donear Group has announced acquisition of Grasim Bhiwani Textile Limited, the Poly-Viscose Suiting Fabrics subsidiary of Grasim Industries. The acquisition of Grasim Bhiwani Textile Limited (GBTL) gives Mumbai-based 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.
GBTL is the country's largest manufacturer of PV and PW Suiting, selling its products under the "Grasim" and "Graviera" brands in India and 25+ countries outside India. The biggest strengths of GBTL are its quality-conscious trade partners and global customers, who have been associated with them for a long time. GBTL caters to international fashion houses in the US and the UK, supplying fabric to them for making garments. These garments are available in some of the largest retail chain stores. The Donear Group aims to build further on GBTL's existing strengths.
“We have been doing extremely well in viscose blends. With this take-over of GBTL, we will create innovative cotton products since we will have additional capacities through the integrated production facilities. This will be a new area for the Donear Group and it is a win-win situation for both the companies, complementing each other’s strenght,” said Rajendra Agarwal, Managing Director of the Donear Group, while speaking to the Editor of the Indian Textile Journal, following a press conference held in Mumbai very recently.
Talking about the acquisition, Rahul Rajendra Agarwal, Director, Donear Group said, "The GBTL acquisition is driven by our desire to expand our business both PAN India as well as in global markets, and progress towards our strategic goal to become the recognized leader in products and services we offer and increase our market share. This GBTL acquisition will utilize strengths of both partners in terms of infrastructure, manpower and product portfolio. Apart from the world-class production capabilities, the acquisition also gives Donear an access to strong nation- wide retail network, wholesalers and multi-brand outlets through which we will expand our reach. "
S Krishnamoorthy, Managing Director of GBTL, appointed by Donear Group said, “'Existing market conditions offer abundant opportunities for companies with robust infrastructure and in-house manufacturing capacities, different types of product categories, good customer base, speed to market and absolute focus on textiles as their core business. In India, huge opportunity exists for fabric in over- the-counter (OTC), Readymade Garments (RMG) and exports segments. Taking on the vision of "Make in Indie", both Donear & GBTL will maintain their individual identities and will stay committed to offer best products and services to their valued customers as one team.”