Donear Group acquires Mayur brand & PV Suiting global distribution network

Donear Group acquires Mayur brand & PV Suiting global distribution network

The company plans to expand its market share of branded fabrics offerings.

Donear Group

Mumbai: Textile and apparel maker and creator Donear Group has announced the acquisition of Mayur Fabrics and PV Suiting Global distribution network from RSWM Ltd to solidify the company's product basket and geographical footprint. 

Donear Group has enforced a consistent growth policy since 2017, with two world-famous textile brands GRADO & OCM already gathered under the portfolio. Having a presence in over thirty countries, the company boasts its third acquisition in a short span of three years, hence strengthening its conglomerate status with an extensive distribution and retail network.

Commenting on this new acquisition, Donear Group's director, Rahul Rajendra Agarwal said, “It is very exciting and at the same time inspirational for us to focus on our own businesses - Yarn and Fabrics respectively. We find ourselves committed to construct further on Mayur brand and make it an integral brand of the 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.”

Donear Group, promoter & managing director, Rajendra Agarwal 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 the business.  I too very happy to hand over this business to Donear Group.”

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, said the company in a statement.

PV Suiting distribution network from RSWM has achieved long strides in the UK and the Middle East which will serve as catalysts for the group to have a strong foothold in these regions.

Donear Group, executive director, Ajay Agarwal said, “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.”

RSWM Ltd, joint managing director/ CEO, Riju Jhunjhunwala affirmed, “We could not have found a better organisation 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 the Group."

The textile-focused Donear Group continues to scout for larger addressable markets with additional product categories. The terms of the transaction will be disclosed at the appropriate forums through wider communication to all stakeholders, said the statement.