Home / Knowledge / News / Textiles / Coats acquires technology provider ThreadSol

Coats acquires technology provider ThreadSol

20
Dec '18
Courtesy: Coats
Courtesy: Coats
Coats, the world’s leading industrial thread manufacturer, has acquired ThreadSol, a cloud-based digital applications provider, becoming a part of Coats Global Services. The acquisition of ThreadSol follows the announcement by Coats of its strategic investment in Twine, a technology start-up which has developed a revolutionary digital thread dyeing system.

"This is a great next step," Manasij Ganguli, co-founder, ThreadSol told Fibre2Fashion, commenting on the development. "We are very excited to become part of the Coats family which is a major step in the growth and development of our business. We will be able to leverage Coats’ unrivalled global footprint and strong corporate brand and have the opportunity to collaborate with and gain additional levels of expertise and insight from a global industry leader."

ThreadSol’s technology focuses on fabric usage optimisation in apparel manufacturing and helps customers reduce fabric waste and cost, and establish accurate product costing. It uses proprietary algorithms built on artificial neural networks to optimise the purchasing and consumption of fabric by real-time data analytics through IoT devices. This reduces costs and waste through cut-plan process and fabric roll utilisation which helps solve one of the most pressing and complex problems in the apparel supply chain.

ThreadSol’s products provide an excellent fit with Coats existing Fast React Systems and GSD range of Evolve, Vision, Align, Enterprise and Quest. This complementary suite of software solutions for the apparel and footwear industries will enable brands, retailers and manufacturers to drive productivity gains, supply chain control and speed to market.

"ThreadSol is an exciting acquisition that supports a key aspect of our growth strategy: to build an innovative software solutions business for the apparel and footwear industries. We will be able to draw upon our demonstrable track record of successfully integrating bolt-on companies following the acquisitions of Patrick Yarn Mill, Gotex and Fast React Systems, all of which are performing well under our ownership," Rajiv Sharma, group chief executive, Coats, said.

Headquartered in Singapore, ThreadSol was founded in Delhi in 2013. It has development centres across India as well as representative offices in Bangladesh, China, Indonesia, Sri Lanka and Vietnam. ThreadSol has over 100 employees, services some 130 businesses in 13 countries and plans more than 1.5 billion garments every year through its platform. In 2018, its sales will be circa $2.3 million. The acquisition is for a cash consideration of up to $12 million. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Board of Investment of Sri Lanka

Textiles | On 16th Jul 2019

BOI Sri Lanka signs deal with Hellman MAS Supply Chain

The Board of Investment of Sri Lanka has signed a deal with Hellman...

Pic: Shutter Stock

Textiles | On 16th Jul 2019

Kenya's cotton output likely to triple over 2018 figures

Cotton production in Kenya this year is expected to triple over last...

Pic: Shutter Stock

E-commerce | On 16th Jul 2019

Amazon to invest over $700 mn to upgrade staff skills

Amazon will invest over $700 million on training programs to upgrade...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

RoSCTL is need of the hour

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Suresh P Bagrecha,

Suresh P Bagrecha

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

Luca Formentini,

Luca Formentini

From the very beginning, Loris Bellini's aim was to produce dyeing...

Eric Fessler,

Eric Fessler

Manufacturer of textile machinery and complete fibre-to-yarn lines, N...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


July 2019

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

news category


Related Categories:

Advanced Search