BekaertDeslee, mattress fabrics and covers industry specialist, has announced a major achievement in its global expansion strategy with the establishment of a joint venture in India.
This strategic move is a significant step towards establishing the company’s presence in one of the world’s largest mattress markets and confirms its commitment to growth in emerging markets.
Following two years of extensive talks, BekaertDeslee has successfully concluded a joint venture agreement with CMC Textiles, a well-established family-owned textile company renowned for its expertise in yarn texturizing as well as in mattress fabric manufacturing. With nearly 200 employees, CMC Textiles, led by the Yadav family, has been a leader in these fields since 1999. This collaboration signifies a long-term commitment, with BekaertDeslee gradually increasing its share to attain a majority stake.
India, boasting an impressive annual growth rate of 20%, presents a significant opportunity for BekaertDeslee to thrive and make a substantial impact. The joint venture will initiate collaborative efforts in marketing, design relationships, financial reporting, and management, with a specific focus on operations, including the construction of a new plant.
This strategic decision aligns with BekaertDeslee’s ‘Close to you’ philosophy, emphasizing a commitment to understanding and servicing local markets. The company’s focus on “India for India” underscores its dedication to tailoring products and services to meet the unique requirements of the Indian market.
By collaborating with CMC Textiles, the company aims to leverage local expertise and insights, combining them with its strengths to create innovative solutions that resonate with the diverse Indian customer base.
“We are thrilled to announce this strategic joint venture in India, a testament to our commitment to global expansion and local market adaptation. Collaborating with CMC Textiles allows us to tap into their rich experience while contributing to our own strengths, ensuring that our products and services are not only globally competitive but also resonate with the unique needs of the Indian consumer”, says Eric Lachambre, CEO at BekaertDeslee.
Mr Ajeet Yadav, CEO at CMC Textiles, “Our aim is to create a world class manufacturing facility together, catering to the large untapped Indian market and some of the most reputed brands across the country. We are excited to embark on this new journey. I believe that with BekaertDeslee’s advanced design capabilities and CMC’s in-depth knowledge about the Indian market, the future is certainly bright.”
BekaertDeslee looks forward to a fruitful partnership with CMC Textiles, marking a new chapter in its global journey and reinforcing its position as a key player in the international mattress and bedding market.
