Tex-preneurs eye global market

25 Nov '05

2 min read

After the success of Indian e-preneurs, now it is the turn of tex-preneurs to become global. All set to seize every market opportunity, domestic textile companies such as Grasim, Alok and Oswals are on the prowl.

After IT, textile majors now go for global spin.

While Alok group company Grabal Alok Impex is acquiring 16 percent equity stake in the UK retail company Hamserd, textile major Grasim is eyeing Pakistan and Bangladesh to expand its viscose staple fibre (VSF) business.

Grabal Alok seems to have major plans to expand its business internationally. It is setting up a wholly-owned subsidiary for overseas joint ventures and acquisitions.

The source stated that this subsidiary is proposing to initially acquire around 16% stake in a UK-based retailing company with an option to raise it to about 26% in a year's time.

Experts predict more action by Indian companies in the near future. The market is abuzz with the news that some Indian textile companies are in the race for acquiring Kabool Lanka, a large integrated textile company near Colombo.

Aspiring for upward mobility in the global textile value chain, domestic companies are now looking at acquiring global textile brands. A start has already been made.

'Zodiac' and 'Lerros' are known brands in the European markets. Besides 'Lerros', Pearl Global's 'DCC' is a significant women's wear brand in the US. Its 'Poeticgen' has already made inroads in the UK market.

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