Donear Group, one of the leading textile groups, has announced the acquisition of Mayur Fabrics and PV Suiting global distribution network from RSWM.
The acquisition will solidify Donear Group’s comprehensive product basket and global augmented geographical footprint. Financial details, however, have not been disclosed as yet.
Having a strong presence in over 30 + countries, Donear Group boasts its third acquisition in a short span of three years, hence strengthening its conglomerate status with an extensive distribution and retail network.
Mayur Fabric is used by some of the world’s leading fashion brands, including Kenneth Cole, Marks & Spencer, Perry Ellis, Ann Taylor and H&M to name a few.
Moreover, PV Suiting distribution network from RSWM’s presence in overseas markets will help expand the proportionate market share of Donear as a Group.
Notably, PV Suiting distribution network from RSWM has achieved long strides in the UK and Middle East, which will serve as catalysts for Donear Group to have a strong foothold in these regions.
In a statement, Rajendra Agarwal, Promoter & MD of Donear Group stated, “Sabka Saath, Sabka Vikas is not just a slogan for us, it is a way of life at Donear. We have given ourselves a vision of sustained growth and we are working towards it as a team and as a family. I have had the opportunity to interact with LNJ family since I started business. I too am very happy to handover this business to Donear Group.”
Delighted with the acquisition, Rahul Rajendra Agarwal, Director, Donear Group said, “It is very exciting and at the same time inspirational for us to focus on our own businesses, that is, yarn and fabrics, respectively. We find ourselves committed to construct further on Mayur brand and make it an integral brand of Donear Group and strive to take it to the next level of success.”
He added “Substantiating our mission of standing tall as a textile and apparel global conglomerate, we aim to grow from strength to strength with Mayur and PV Suiting distribution network on our side. This highly scalable and sustainable infusion will serve as our next giant growth engine to further enrich our portfolio and expand the market share of branded fabrics offering.”
Ajay Agarwal, ED, Donear Group stated, “We have a great share in the market having other brands like GRADO & OCM working under our Group. Having Mayur Fabrics and PV Suiting distribution network, will project us as a textile and apparel titan, empowering our clientele as well as retailers’ network.”
Riju Jhunjhunwala, Joint MD, CEO of RSWM Ltd., affirmed, “It is a matter of pride for us that Mayur brand is now a part of Donear Group. We could not have found a better organisation than Donear to pass on our legacy to. I have seen the way Donear has taken over other brands, the way Donear has cultivated and helped prosper other brands in the past.”