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Standard Textile acquires Mascioni hospitality business

19
Nov '18
Courtesy: Standard Textile
Courtesy: Standard Textile
Standard Textile, leader in the hospitality and healthcare textile markets, is taking over the global hospitality business of Mascioni, Italy, including the Mascioni Hotel Collection brand. The brand markets bed, bath, table and spa products to luxury hotels worldwide. The move advances Standard Textile's strategy of expanding its leadership position.

Gary Heiman, president and chief executive officer of Standard Textile said, "We are pleased to acquire the Mascioni hospitality business. The Mascioni Hotel Collection brand embodies the notable craftsmanship and innovative artistry of Mascioni, one of Italy's leading textile design and finishing manufacturers. The Mascioni Hotel Collection broadens our brand portfolio to satisfy the characteristics and values of today's luxury hotel customer."

Francesco Russo, chief executive officer of Mascioni said, "Since Mascioni's founding in 1957, the company has gained a strong worldwide reputation for creating luxury quality linens. We believe Standard Textile's strong distribution network in North America and globally will accelerate the growth of the Mascioni hospitality business and the Mascioni Hotel Collection brand."

Standard Textile indicated there will be a design and supply agreement with Mascioni to provide the company an opportunity to manufacture products through Mascioni in Italy along with Standard Textile's global manufacturing infrastructure.

"This partnership and complete control of our entire supply chain allows us to innovate at each stage of the process, ensuring consistency in superior quality and service," said Heiman. "The Mascioni Hotel Collection offers luxury properties the distinguished products desired by guests, supported by a robust global manufacturing and distribution network."

Heiman noted the Mascioni Hotel Collection will continue to operate as an independent brand with headquarters in Cincinnati, Ohio. The transaction is expected to close in November 2018.

Standard Textile entered the hospitality market with products exclusively engineered to address the needs and desires of hoteliers, from limited to full-service, boutique, lifestyle and luxury. The company supplies linen to many of the world's largest, most recognisable hotel brands.

Standard Textile has also executed a license agreement with Mascioni that provides Standard Textile the exclusive right to manufacture, market, and sell Mascioni branded products in the US consumer market. (SV)

Fibre2Fashion News Desk – India


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