Mumbai: Riding high on its continuous growth momentum, the new-age textile and apparel maker and creator, DONEAR Group has announced the acquisition of MAYUR Fabrics and PV Suiting Global distribution network from RSWM. This move will solidify DONEAR Group’s comprehensive product basket and global augmented geographical footprint. DONEAR Group has enforced a consistent growth policy since 2017, with two world-famous textile brands, GRADO & OCM already gathered under its portfolio. Having a strong presence in over 30 + countries, DONEAR Group boasts its 3rd acquisition in a short span of three years, hence strengthening its conglomerate status with an extensive distribution and retail network. By focusing on the Group’s inherent strength of manufacturing and distribution of premium quality branded fabrics, DONEAR Group will be able to scale up MAYUR brand exponentially. Furthermore, MAYUR Brand’s strong presence in the institutional and uniform supplies will compliment DONEAR Group’s agile manufacturing facilities and robust distribution network.
Touted to be ‘MAYUR – Stars ki Pasand’ a household name for trend – conscious buyers offers classic fabrics at an affordable price. The collection is used by some of the world’s leading fashion brands, including Kenneth Cole, Marks & Spencer, Perry Ellis, Ann Taylor and H&M to name a few. Moreover, PV Suiting distribution network from RSWM’s presence in overseas markets will help expand the proportionate market share of Donear as a group. PV Suiting distribution network from RSWM has achieved long strides in the UK and Middle East which will serve as catalysts for Donear group to have a strong foothold in these regions.
Speaking about the acquisition, Mr. Rajendra Agarwal, Promoter & Managing Director of Donear Group stated, “Sabka Saath, Sabka Vikas is not just a slogan for us, it is a way of life at Donear. We have given ourselves a vision of sustained growth and we are working towards it as a team and as a family. I have had the opportunity to interact with LNJ family since I started business. I too very happy to handover this business to DONEAR Group.”
Commenting on this new acquisition, Mr. Rahul Rajendra Agarwal, Director, Donear Group said, “We are delighted to announce the acquisition of Mayur Fabrics and PV Suiting distribution network from RSWM Ltd. It is very exciting and at the same time inspirational for us to focus on our own businesses i.e. Yarn and Fabrics respectively. We find ourselves committed to construct further on Mayur brand and make it an integral brand of Donear group and strive to take it to the next level of success. Substantiating our mission of standing tall as a textile and apparel global conglomerate, we aim to grow from strength to strength with Mayur and PV Suiting Distribution Network on our side. This highly scalable and sustainable infusion will serve as our next giant growth engine to further enrich our portfolio and expand the market share of branded fabrics offering.”
Mr. Ajay Agarwal, Executive Director of Donear Group stated, “We have a great share in the Market having other brands like GRADO & OCM working under our group. Having Mayur Fabrics and PV Suiting distribution network, will project us as a textile and apparel titan, empowering our clientele as well as retailers’ network.“ The addition of Mayur and PV Suiting Distribution Network is driven by our desire to expand our business both PAN India as well as in global markets. After Mayur’s infusion in our group, we are expecting enhancements in the existing distribution chain and market value of our conglomerate.”
Mr. Riju Jhunjhunwala, Joint Managing Director/ CEO of RSWM Ltd. affirmed, “It is a matter of pride for us that Mayur Brand is now a part of Donear Group. We could not have found a better organization than Donear to pass on our legacy to. I have seen the way Donear has taken over other brands, the way Donear has cultivated and helped prosper other brands in the past. I am telling you from the bottom of my heart, that no one would be happier than me to see Mayur Brand growing, prospering and flourishing under Donear group, our distribution network widening with time and employees at Mayur prospering in their careers with the inspiration and support of Donear Group. I just want to say that I am very happy with this transition. Like Rajendra ji said we have been sharing business and family relations starting way back from my Grandfather’s time, I wish that our relation keeps growing as well.”
The textile focused Donear Group further consolidates its position amongst the top three players in the synthetic fabric business in India. Donear Group continues to scout for larger addressable market with additional product categories. The terms of the transaction are not announced yet and will be disclosed at the appropriate forums through wider communication to all stakeholders.
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