Coats and Twine will now work together to market the technology which will be launched mid 2019.
"By digitally dyeing thread, Twine brings a unique solution to a most basic and fundamental global problem. This basic component, thread, is prevalent everywhere and is literally in 'every wear'. It is a primary and critical production bottleneck, limiting today’s manufacturing of textile goods, ever more pronounced with the advent and growing of mass personalisation and customisation," Alon Moshe, Twine CEO and co-founder.
"This is an exciting and innovative strategic move. We are investing in future technology which will improve our industry and its sustainability by directly addressing the key needs of our customers: speed, innovation and sustainability. The disruptive technology has the potential to revolutionise the thread industry and Coats will work closely with Twine to commercialise this opportunity," Rajiv Sharma, Coats Group Chief Executive, said.
"It is with much pleasure that we announce and welcome our new investors and partners, in joining Twine to meet these challenges and push the boundaries to great heights. Coats will not only join as investors, but as alliance partners to cross boundaries and transformations between digital and traditional frontiers among others. By addressing this singularity point, thread, Twine brings immense economical value, as well as brings paramount importance to the ecological benefits from its offerings and solutions, thus allowing for industry 4.0 to truly set in," Moshe added.
"Twine’s unique technology, positions the company to be a major player in the digital transformation of the textile industry, which we believe is ripe for disruption. We are excited to join Twine’s mission to improve the industry’s efficiencies, foster creativity and make a sustainable impact on the world," Irit Hillel, Partner at HP tech Ventures, said. (RR)
Fibre2Fashion News Desk – India
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