Hi Fabrique Group, the Bengaluru-based luxury cotton fabric manufacturer, announced the acquisition of Tessitura Monti India, a producer of yarn-dyed fabrics, on Monday.
According to a statement, Tessitura Monti India Pvt Ltd (TMIPL), is a wholly-owned subsidiary of Tessitura Monti Spa, Italy, which is globally among the leading manufacturers of processed luxury and high-value cotton and counts international brands like Hugo Boss, Charles Tyrwhitt, Polo Ralph Lauren, Hackett, Prada, Gucci, Thomas Pink, Tailor man and Café Coton as customers.
This deal is poised to aid domestic firm Hi Fabrique (HF) Group which has a “significant market share” in India’s high-value yarn-dyed shirting fabrics market.
TMIPL also has a facility at Kolhapur, Maharashtra, which was mainly set up for exports, but it also supplies locally.
“The Kolhapur unit supplies 20 per cent of its production to domestic markets which, in turn, is being used by brands like Blackberry, Zodiac, Raymond’s, Louis Phillipe, Van Heusen, Nautica, Calvin Klein, Tommy Hilfiger etc,” it said.
HF Group was founded in 1993 by Jodhraj and is India’s largest stockist of premium cotton shirting-ready fabric and caters to garment exporters in Bengaluru.
It caters to over 500 brands like Louis Phillipe, Van Heusen, Blackberry, Park Avenue, Siyaram, Peter England, US Polo, Arrow, Basics, Pan America, Turtle, French Crown, Hamer cop, Amazon, Myntra, Lifestyle etc.
Hi Fabrique has a presence in over 3500 over-the-counter stores across the country including Pothys (Chennai), Kalyan group (Trichur), Jai hind Group (Pune), J S Mohammed Ali (Kolkata), Heritage, Studio Firang (Delhi), Benzer, Gabbana (Mumbai) and P N Rao, Prestige (Bengaluru).
Jodhraj who has been appointed Chairman of Tessitura Monti India, said, “With this acquisition, we will be able to leverage the strengths of both companies to create a more robust and diversified product portfolio. By combining our expertise, resources, and talent, we will be better positioned to meet the evolving needs of our customers and deliver innovative solutions that exceed their expectations.”