Tessitura Monti India Private Limited Acquired by Hi Fabrique Group, Based in Bangalore
- ByStartupStory | March 21, 2023
Hi Fabrique Group, a luxury cotton fabric manufacturer based in Bangalore, has announced its acquisition of Tessitura Monti India Private Limited (TMIPL), an Indian subsidiary of Italy’s Tessitura Monti Spa. TMIPL is involved in textile spinning, weaving, and processing. The financial details of the deal have not been disclosed.
Singhvi Dev & Unni LLP acted as the only financial advisor for the acquisition, representing Hi Fabrique Group. The transaction involved multiple geographies, and the advisor helped ensure its seamless closure.
Founded in 1911 in Italy, the Monti group is a leading manufacturer of luxury and high-value cotton fabric. With over 1,500 customers and longstanding relationships with them, the company has established itself as the best in the world in processed cotton fabric manufacturing, according to a press release from the company.
Tessitura Monti Italy is a group consisting of five brands, with five textile production plants and three garment manufacturing units. The company has a broad range of international customers, including popular brands such as Hugo Boss, Charles Tyrwhitt, Polo Ralph Lauren, Hackett, Prada, Gucci, Thomas Pink, Tailor man, and Café Coton, all of whom source from Tessitura Monti India.
Tessitura Monti India Pvt. Ltd. Established a facility in Kolhapur, Maharashtra, to meet the increasing demand for high-quality shirting fabric. The facility covers 20,000 square meters and employs over 900 people. While it was primarily established for exports, it also supplies 20 percent of its production to domestic markets, serving brands such as Blackberry, Zodiac, Raymond’s, Louis Phillipe, Van Heusen, Nautica, Calvin Klein, and Tommy Hilfiger. The Italian counterparts of the employees have trained them, ensuring that the unit maintains the hundred-year-old legacy and expertise at every stage of production.
According to the company, Hi Fabrique Group has a significant market share in the Indian high-value yarn-dyed shirting fabrics market. With the same management, the acquisition of Tessitura Monti India will enable the group to expand the Monti India brand globally and increase its profitability. HF Group, established in 1993, is the largest stockist of premium cotton shirting ready fabric in India. They source products from Italy, Switzerland, Portugal, China, and Vietnam. HF caters to 500+ high-end brands and has a presence in over 3500+ over-the-counter stores across India. Pre-Covid, they sold over 6 million meters of high-value yarn-dyed shirting fabrics in India and neighboring countries.
Jodhraj, Chairman of Tessitura Monti, expressed enthusiasm for the acquisition, stating that it represents a significant step forward for the company and will allow them to expand their offerings and strengthen their position in the textile industry. He highlighted the potential to leverage the strengths of both companies to create a more robust and diversified product portfolio, better positioned to meet customer needs and deliver innovative solutions.
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