Together, Raymond UCO Denim will now move closer to its customers by increasing the flexibility of operations and servicing the global sourcing requirements of large international brands in their markets. The flexibility in manufacturing will match customer demand for design, style and finishing that are required for the fast changing fashion world.
Mr Philippe Vlerick, Chairman, UCO NV, Belgium said, “We are privileged to partner with Raymond Ltd to form this Joint Venture that will revolutionize the denim business across the globe."
"This Denim Company will have a significant scale of operations; European design skills and a strong back end in integrated manufacturing, to cater to the global requirements of large international brands. We believe that the brand equity of the individual brands will give the Joint venture a strong position and craft an enviable place in the global denim industry”.
Incorporated in 1925, the Raymond Group has a turnover of Rs 2000 crore (USD 500 million) with business interests in fabrics & apparel (worsted, denim, shirting), designer wear, engineering files & tools, cosmetics & toiletries, prophylactics & air charter operations.
UCO is a Belgian textile group with interests in denim and flat fabric and yarn with a focus on innovative high fashion products. In 2005, the group achieved a turnover of 104 million Euros (Rs 5.5 billion) in its denim business.
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