Corporate Feature

Published: Mar 31, 2022
Updated: Mar 31, 2022

Expansion through acquisition route - Globe Textiles (India) Ltd

NSE-listed Globe Textiles (India) Ltd (NSE: GLOBE), a Star exporter and leading manufacturer of jeans as well as fabrics, has been marketing its products at home as well as abroad since the last two decades. It is now in the process of acquiring a garment manufacturing and processing unit as part of its expansion plans. The company is taking over an existing manufacturing unit of Vivaa Tradecom Pvt Ltd, which is engaged in the manufacturing and job work of garments and processing of fabrics. Vivaa had a total turnover of Rs 145.90 crore for the year ended 31 March, 2021. After the acquisition, Globe Textiles will enhance its garment capacity and in-house processing capacity.

The company has also announced the reappointment of independent directors Yogesh Kanhiyalal Vaidya and Bharat Shamjibhai Patel.

DENIM BRAND

Earlier, in December 2021, the company launched denim brand ‘Orijean’, a registered brand of Bhavin Suryakant Parikh, CEO and CFO of the company, wherein it has entered into a licence agreement to widen the portfolio with different brands. The vision of ‘Orijean’ is to create sustainable denim wear, which is going to inspire, support, promote, explore and implement solutions to the environment crisis, as well as nurture craft, culture and people in every possible way.

“Great brands make an emotional connection with their buyers and inspire them to take actions. Brand inspiration is the foundation of your brand strategy,” the company had said in a filing. The portfolio under ‘Orijean’ will have jeans, shorts, joggers, cargo pants, T-shirts, jumpsuits and accessories for both men’s and women’s wear.

TOP-CLASS FACILITY

GTIL operates a compliant, sustainable and futuristic manufacturing facility of sheer production brilliance, dedicated to fashion garmenting for international customers. Cumulatively, the company will have production capacity sprawled over 2.5 lakh sq ft, housing various divisions. Together, it manufactures 36 million metres of fabric and 2.5 million bottoms per annum. It has a workforce of over 1,200 workers and a team of over 150 staff members.

Globe offers a fascinating range of textiles, apparel and related services through innovation with due care for the environment. Its vast product portfolio consists of man-made and natural fibre yarns, fabrics, accessories and readymade garments.