Donear Group Promoters Acquire Suiting Fabrics Manufacturer OCM Woolen Mills

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Donear Group Promoters Acquire Suiting Fabrics Manufacturer OCM Woolen Mills

Promoters of the Mumbai-based Donear Group have announced the acquisition of OCM Woolen Mills as part of a strategy to consolidate its top position in the Indian textiles industry.

Announcing the acquisition of OCM, Donear Group’s promoter Rajendra Agarwal said, “The Donear Group started its major take-off in 1994 from Amritsar. OCM is India’s best-quality manufacturer of woolen and worsted fabrics, and thanks to their skilled manpower for ensuring best quality of fabric. OCM’s tweed suiting material is extremely popular for blazer and jacket fabric across India. No other manufacturer in India has been able to match the quality of OCM blazer and jacket of Tweed fabric till date. We have charted out ambitious and aggressive plans to promote the OCM brand.”

The acquisition of OCM, which manufactures a premium range of high-quality all-wool and wool-blended worsted suiting fabrics, will enable the Donear Group to expand its range of products to Indian consumers for all weather conditions and for all occasions. In a win-win deal, OCM will get access to the management expertise of the promoters of Donear Group to expand its product range and distribution footprint within India as well as in overseas markets.

The distributors of OCM, who generally witness lower sales during non-winter seasons, will be able to sell an additional range of products, especially Giza, Supima, wrinkle-resistant cotton fabric for jackets, trousers etc. and Terry Rayon fabric for suit length.

Incidentally, OCM Woolen Mills happens to be the second major acquisition by promoter of the Donear Group after it acquired GBTL Ltd. (formerly known as Grasim Bhiwani Textile Limited), the PV Suiting Fabrics business earlier in July this year. Like GBTL Ltd, OCM Woolen Mills will continue to operate as an independent unit manufacturing woolen fabric products under guidance of the Donear Group management. There will not be any change in the day-to-day management or existing policies at the OCM unit.

After acquisition, all entities will continue to focus on their respective brands as separate teams and the management will continue its efforts to strengthen and utilise their competencies to serve to their customers.

OCM has an extensive product range under brands like Ferrara, OCM Style, Siena, Bold and, Savannah.

With the acquisition of OCM, the Donear Group will be able to offer a complete range of fabrics under a bouquet of brands including OCM, Ferrino Mizzoni, GBTL-Grasim, Donear, Graviera, Royal Classico, Donear Cottons–Belboni and Cotonova, besides iTR Terry Rayon Suiting as well as Bronson Shirting.

In the retail space, the Donear Group successfully operates Donear NXG and D’Cot branded retail stores.