Hi Fabrique Group acquires Tessitura Monti Spa's India business

By

Maverick Martins

Published
Mar 20, 2023

Bengaluru-based cotton fabric manufacturer Hi Fabrique Group has acquired Tessitura Monti India Private Limited (TMIPL), a wholly owned Indian subsidiary of Italian company ‘Tessitura Monti Spa’.

The deal estimated to be around Rs 205 crore ($25.2 million) will help firm Hi Fabrique make inroads in the global markets after gaining a significant market share in India's luxury shirting fabrics market.

TMIPL has a facility at Kolhapur, Maharashtra, which 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 company mainly exports from the facility to international brands like Hugo Boss, Charles Tyrwhitt, Polo Ralph Lauren, Hackett, Prada, Gucci, Thomas Pink, Tailor man and Café Coton among others.

Commenting on the acquisition, Jodh Raj, chairman of Tessitura Monti India in a statement said, “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.”

Launched in 1993, HF Group is India's largest stockist of premium cotton shirting-ready fabric. It caters to over 500 brands like Louis Phillipe, Van Heusen, Blackberry, Park Avenue, Siyaram, Peter England, US Polo, Arrow, among many others.