UK's Coats acquires Texon to expand presence in athleisure footwear

06 Jul '22

1 min read

Pic: Coats Group

Coats Group plc, the world's leading industrial thread manufacturer, has acquired Texon, a global leader in premium structural components and materials for footwear, accessories and apparel industries. Texon provides high quality structural components to the global footwear market and has a long heritage as a proven supplier to the world’s leading brands.

Texon is also focused on sustainable innovation and supplies high-performance, sustainable, materials, including heel counters, toe puffs and insoles to the highly attractive premium athleisure footwear market.

Rajiv Sharma, Coats Group chief executive, said: “The acquisition of Texon will strengthen our existing presence in the highly attractive athleisure footwear market. The business is complementary to Coats and provides attractive future commercial opportunities as we work together leveraging our combined expertise and knowledge to succeed with our customers. We recognise and share Texon’s focus on sustainability and innovation and believe that this acquisition strengthens our ability to fulfil these shared ambitions.”

Texon, which has operations in Asia and Europe, is a complementary addition to Coats’ existing footwear business with attractive commercial opportunities from leveraging Coats' existing footprint, Coats Group said in a media release.

Fibre2Fashion News Desk (KD)

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