Home / Knowledge / News / Textiles / Promoters of Donear Group acquire OCM Woolen Mills
Promoters of Donear Group acquire OCM Woolen Mills
20
Nov '17
L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)
L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)
The promoters of Mumbai-based Donear Group have announced the acquisition of OCM Woolen Mills. The acquisition of OCM, which manufactures a premium range of high-quality all-wool and wool-blended worsted suiting fabrics, will enable the Donear Group to expand its range of products to the Indian consumers for all weather conditions and for all occasions.

This acquisition makes Donear Group India’s largest branded menswear fabric manufacturer. In a win-win deal, OCM gets access to the management expertise of the promoters of Donear Group to expand its product range and distribution footprint within India as well as in the overseas markets. The distributors of OCM, who generally witness lower sales during non-winter seasons, will be able to sell an additional range of products, especially Giza, Supima, wrinkle-resistant cotton fabric for jackets, trousers etc. and Terry Rayon fabric for suit length.

"Donear Group started its major take-off in 1994 from Amritsar. OCM is India’s best-quality manufacturer of woolen and worsted fabrics, and thanks to their skilled manpower for ensuring best quality of fabric. OCM’s tweed suiting material is extremely popular for blazer and jacket fabric across India. No other manufacturer in India has been able to match the quality of OCM blazer and jacket of Tweed fabric till date. We have charted out ambitious and aggressive plans to promote the OCM brand," Rajendra Agarwal, a promoter of the Donear Group, said.

OCM Woolen Mills is the second major acquisition by promoter of the Donear Group after it acquired GBTL Ltd. (formerly known as Grasim Bhiwani Textile Limited), the PV Suiting Fabrics business earlier in July this year. Like GBTL Ltd, OCM Woolen Mills will continue to operate as an independent unit manufacturing woolen fabric products under the guidance of Donear Group management. "There will not be any change in the day-to-day management or existing policies at the OCM unit. Post-acquisition, all entities will continue to focus on their respective brands as separate teams and the management will continue its efforts to strengthen and utilise their competencies to serve to their customers," a company press release said.

With acquisition of OCM, the Donear Group will be able to offer a complete range of fabrics under a bouquet of brands including OCM, Ferrino Mizzoni, GBTL-Grasim (license user of TM Grasim), Donear, Graviera, Royal Classico, Donear Cottons–Belboni & Cotonova, iTR Terry Rayon Suiting and Bronson Shirting. 

Donear Industries Limited is well-recognised in India and outside as one of the best-quality product makers and innovators, who have been in business for 40+ years. The promoters treat textiles as the Group’s core business and have been putting best efforts to grow year on year. It has production capacity of around 55 million meters per annum with latest technologies and machinery at Surat. Apart from being a leader in India, Donear also has a strong presence in over 20 countries globally. 

Originally a part of SK Birla Group (Birla VXL), OCM was acquired by private equity funds managed by WL Ross & Co. LLC in 2006. Since that acquisition, OCM has undergone extensive transformation across manufacturing, product development to revitalise its brand and strengthen its business. OCM’s product design function is at the forefront of global styling with design office in Biella, Italy. Due to its superior product quality, institutional customers such as hospitals, airline and hospitality companies, schools and the government undertakings consider OCM as their preferred supplier of worsted fabric. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search