BekaertDeslee, the Waregem, Belgium-based mattress fabrics and covers company, reached a joint venture agreement with CMC Textiles, a family-owned textile business in Gujarat, India. According to a news release, the partnership was finalized after two years of extensive talks.
“We are thrilled to announce this strategic joint venture in India, a testament to our commitment to global expansion and local market adaptation,” said Eric Lachambre, CEO at BekaertDeslee. “Collaborating with CMC Textiles allows us to tap into their rich experience while contributing to 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.”
The partnership will help expand BekaertDeslee’s presence in India, one of the world’s largest mattress markets. According to the company, the collaborative venture will span marketing, design, relationships, financial reporting and management. There will also be a focus on operations, including the construction of a new plant.
“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,” said Ajeet Yadav, CEO of CMC Textiles. “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.”
