Eastman Exports Global Clothing Private Limited, a known knitwear business, has recently divested around 20 per cent of its stake to the investment arm of Bharat Biotech Group. This strategic alliance aims to facilitate Eastman Exports’ international expansion and enhance its footprint within the global apparel industry.
In a press release, Eastman Exports revealed its ambitious plans to extend its operations into the Australian, Japanese, UAE, and European markets. To facilitate this expansion, the company will establish a dedicated office in the UK and forge a strategic partnership with Bharat Biotech to ensure sustained growth in these regions.
Having secured the new funding, Eastman Exports is now poised to channel investments into capital expenditure, bolstering backward integration, and expanding its customer base. Notably, the share purchase agreement between Eastman Exports and Bharat Biotech Group’s investment arm has received approval from the Competition Commission of India through its expedited ‘green channel’ route.
Eastman Exports’ chairman, N. Chandran, expressed excitement about partnering with Bharat Biotech Group in a press release. The funds will strengthen capacities, enable backward integration, and facilitate expansion into newer markets. Already present in the US, the company plans to open a UK office soon and explore opportunities in West Asia following India’s Free Trade Agreement with the UAE.
Based in the knitwear hub of Tiruppur, Eastman Exports provides knitwear to over 30 international brands. The company’s core focus lies in sustainable materials, such as organic cotton and recycled polyester, and it boasts a fully integrated knitwear setup.
