BekaertDeslee, the world-leading company in the mattress fabrics and covers industry, is pleased to announce a significant milestone in its expansion strategy with the successful establishment of a joint venture with CMC Textiles, a prominent family-owned textile company based in India.
BekaertDeslee and CMC Textiles have formalized a comprehensive joint venture agreement after two years of extensive talks. This strategic collaboration marks a significant step for BekaertDeslee in establishing its presence in one of the world's largest mattress markets.
CMC Textiles, led by the Yadav family, has been a leader in yarn texturizing and mattress fabric manufacturing since 1999. With nearly 200 employees, the company brings a wealth of experience and a strong foundation to the joint venture.
“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” says Mr Ajeet Yadav, CEO at CMC Textiles.
The collaboration reflects a long-term commitment, with BekaertDeslee gradually increasing its share in the joint venture to ultimately attain a majority stake. This approach underscores the companies' confidence in the success of their partnership.
This strategic decision aligns with our 'Close To You' philosophy, emphasizing a commitment to understanding and servicing local markets. The company's focus on "India for India" further highlights its dedication to tailoring products and services to meet the unique requirements of the Indian market.
"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 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." Eric Lachambre, CEO at BekaertDeslee, expresses enthusiasm about the collaboration.
We look 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.
