Donear Group acquires Mayur brand from RSWM Ltd

Mumbai

Riding high on its
continuous growth momentum, the new-age textile and apparel maker and creator,
Donear Group has acquired MAYUR Fabrics and PV Suiting Global distribution
network from RSWM Ltd. 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.

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.”

Rahul Rajendra
Agarwal, Director, Donear Group, added, “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.”

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.”

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.