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. GBTL is the country’s largest manufacturer of PV and PW suiting, selling its products under the “Grasim” and “Graviera” brands in India in over 25 countries.
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.
OCM has a sprawling 37-acre complex that houses an ultra-modern plant with 23,000 spindles, 120 high-speed shuttles-less looms and a woollen processing unit, with a weaving capacity of 25,000 meters of fabric per day and an employee base of 900.
With the acquisition of GBTL and OCM, the Donear Group will be able to offer a complete range of fabrics under a bouquet of brands, including OCM, Ferrino Mizzoni, GBTL-Grasim, Donear, Graviera, Royal Classico, Donear Cottons–Belboni & Cotonova, iTR Terry Rayon Suiting and Bronson Shirting. In retail, the Donear Group is successfully operating Donear NXG (MBO) and D’Cot (EBO) branded retail stores.
Both these acquisitions are expected to further strengthen Donear’s leadership both in the domestic and global textile industry.