By Arun Rao
Globe Textiles India Ltd., a leading name in the textile industry, has recently acquired Globe Denwash Pvt Ltd, enhancing its commitment to sustainability and environmental stewardship. Globe Denwash, noted for its zero liquid discharge (ZLD) facility and Zero Discharge of Hazardous Chemicals (ZDHC) certification, underscores Globe Textiles’ dedication to eco-friendly practices.
Globe Denwash utilizes renewable energy, including solar rooftop panels that meet 50 percent of its total electricity requirements, significantly reducing dependency on fossil fuels. Globe Textiles, which acquired a 70 percent stake in Globe Denwash for Rs 18.29 crore, also uses high calorific value biomass fuels for steam generation, further minimizing carbon emissions and the overall carbon footprint.
The acquisition of Globe Denwash brings state-of-the-art facilities, such as highly automated industrial washing tumblers and dryers, to Globe Textiles. This has increased Globe Textiles’ garment washing capacity and bolstered its capabilities in processing and sample development. Bhavin Parikh, CEO of Globe Textiles, emphasized that the value addition from the washing unit gives the company a competitive edge, enhances product development, and increases profit margins. He noted that the larger washing capacity enables the expansion of stitching capacity, positioning Globe Textiles to serve more customers in the European Union and U.S. markets.
Legacy of Innovation
Headquartered in Ahmedabad, Globe Textiles India, which began operations in 2008, is an ISO 9001:2008 certified manufacturer and exporter of fabrics and garments. The company made a notable entry into the international denim market by exporting denim fabrics to China and Hong Kong, at a time when Chinese imports dominated the Indian market. This strategic move was backed by extensive research into fabric texture and feel, and a deep understanding of fashion trends and market demands. Today, Globe Textiles offers a range of innovative, tailor-made products, prioritizing sustainability and customer satisfaction.
Globe Textiles operates five production plants with a combined built-up space of over 250,000 sq. feet, manufacturing denim fabrics, shirting fabrics, home textiles, and denim jeans for both men and women. The company boasts a garment manufacturing capacity of two million pieces per annum and a fabric processing capacity of over 30 million meters per annum. It supplies clothing products to renowned brands such as People, Bare, Spykar, Lifestyle, Splash, John Players, and Being Human. Recognized as a Star Export House, Globe Textiles generates 30 percent of its revenue from exports to the Gulf countries, Southeast Asian countries, Latin America, and Europe.
In February 2024, Globe Textiles announced the launch of its fashion attire division to enhance its capabilities and provide a one-stop shopping destination for its global consumer base. The company plans to invest Rs 50 crore in the next 12 to 18 months to strengthen its product capacity and asset base. This investment is expected to boost revenue by 30 percent, with the top line projected to reach Rs 520 crore in the next three years on a consolidated basis.
Optimism for the Future
Parikh expressed expectations from the government to overhaul labor laws, which would encourage further investment in the apparel sector, and called for a ban on cheap textile imports. He highlighted the robust growth of the Indian economy, driven by strong consumer demand, and emphasized the importance of the Globe Denwash acquisition in expanding capacity and broadening the product mix to meet diverse consumer needs. He also expressed optimism about the export market, particularly in Europe, Russia, and the UK, noting the benefits of post-Covid-19 dynamics and the China+1 strategy.
With the acquisition of Globe Denwash, Globe Textiles continues its journey towards sustainability and expansion. The strategic move enhances its market presence, broadens its product offerings, and strengthens its position as a key player in the global textile industry. As Globe Textiles looks to the future, it remains committed to innovation, sustainability, and meeting the evolving needs of its customers.
