Mumbai’s DonearBSE -0.03 % Group on Monday said it has acquired Amritsar-based OCM Woolen Mills. Without disclosing the size of the acquisition, the group said that the acquisition would enable it to expand its range of products to Indian consumers for all weather conditions and for all occasions.
This will help OCM’s distributors, who generally witness lower sales during seasons other than winter sell an additional range of products, especially Giza, Supima, wrinkle-resistant cotton fabric for jackets, trousers, etc. and terry rayon fabric for suit length.
“Suiting is not just about wool alone, considering mere 25% of the suiting fabric is now woollen. This acquisition will help us provide the complete range of suiting to Indian men — from poly-viscose, cotton and woollen blends,” Rajendra Agarwal, promoter of the Donear Group, told ET. Agarwal said that OCM manusell an additional range of products, especially Giza, Supima, wrinkle-resistant cotton fabric for jackets, trousers, etc. and terry rayon fabric for suit length.
“Suiting is not just about wool alone, considering mere 25% of the suiting fabric is now woollen. This acquisition will help us provide the complete range of suiting to Indian men — from poly-viscose, cotton and woollen blends,” Rajendra Agarwal, promoter of the Donear Group, told ET. Agarwal said that OCM manufactures India’s best woollen and worsted fabrics and no other manufacturer in the country has been able to match the quality of its blazer and tweed jacket.
OC, formerly known as OCM India, began its journey as a textile manufacturer in 1924 and started making worsted fabric in 1972.
