Bangalore-based luxury cotton fabric manufacturer, Hi Fabrique Group today announced the acquisition of Tessitura Monti India Private Limited (TMIPL), an Indian subsidiary of Tessitura Monti Spa, Italy, an Italian Company which owned 100% of TMIPL, involved in the spinning, weaving, and processing of textiles for an undisclosed amount, the company said in a media release.
Singhvi Dev & Unni LLP acted as the sole financial advisor for the transaction representing Hi Fabrique Group to ensure seamless closure of the transaction involving multiple geographies.
The Monti group was established in Italy in 1911 and is currently the finest manufacturer of processed luxury and high value cotton fabric in the world. It has a customer base of more than 1,500 customers with a long-standing customer relationship. The Tessitura Monti Italy group is made up of five brands with five textile production plants and three garment manufacturing ones. International brands like Hugo Boss, Charles Tyrwhitt, Polo Ralph Lauren, Hackett, Prada, Gucci, Thomas Pink, Tailor man and Café Coton etc., are customers of Tessitura Monti India.
Tessitura Monti India Pvt. Ltd. (TMIPL) installed a facility in India at Kolhapur, Maharashtra. With a complete hold on the trends in local production as well as in global markets, a goal was set to provide very high premium yarn-dyed fabrics to cover the demand for fine shirting fabric. With over 900 employees the facility covers an area of 20,000 square meters. The state of art facility was set up mainly for exports, but also supplied locally. The Kolhapur unit supplies 20 percent of its production to domestic markets which, in turn, is being used by brands like Blackberry, Zodiac, Raymond‘s, Louis Phillipe, Van Heusen, Nautica, Calvin Klein, Tommy Hilfiger etc. The employees in the unit are trained by their Italian counterparts and hence the legacy and expertise of a hundred years is well reflected at every step of production.
HF commands significant market share in the high-value yarn-dyed shirting fabrics market in India and the same management will help build Monti India’s brand across the globe, also making it profitable. Started in 1993 by Mr. Jodhraj to cater to garment exporters in Bangalore, HF Group is India’s largest stockist of 100% premium cotton shirting ready fabric.
Other than India, HF sources its products from Italy, Switzerland, Portugal, China and Vietnam. Pre-Covid 19, HF was consistently selling over 6 million meters of high value yarn dyed shirting fabrics in India and neighboring countries. It caters to over 500 high end brands with a presence in over 3500 over-the-counter stores across the country such as Pothys Chennai, Kalyan group Trichur, Jai hind Group Pune, J S Mohammed Ali Kolkata, Diwan Saheb, Heritage, Studio Firang Delhi, Benzer, Kachin’s, Gabbana Mumbai, P N Rao, Prestige Bangalore.
The operations carried out at Monti India fit perfectly into HF’s long-term strategy of backward and forward integration of the business operations to serve their customers with greater conviction and vigor, better design, broad range of products, and create a global footprint of the brand and value proposition.
On his appointment, Jodhraj, the Chairman of Tessitura Monti, said, “This exciting move represents a significant step forward for our company, as we expand our offerings and strengthen our position in the textile industry. With this acquisition, we will be able to leverage the strengths of both companies to create a more robust and diversified product portfolio. By combining our expertise, resources, and talent, we will be better positioned to meet the evolving needs of our customers and deliver innovative solutions that exceed their expectations.”