Textile manufacturer Digjam Ltd has entered into a joint venture with Scotland-based clothing merchant Holland & Sherry for trading and distribution of premium fabrics in India.

Addressing the media at the launch of Winter Collection 2015, C Bhaskar, Managing Director and Chief Executive Officer, Digjam, said the venture not only brings higher-end fabric range to Indian customers but also gives Digjam an opportunity to utilise the network for the distribution of their products.

This partnership will be equally owned by Digjam and Holland & Sherry, where the Indian textile manufacturer will assist Holland & Sherry in trading and distribution. It will function as a new company, Holland & Sherry India Ltd, and will have directors from both the companies on board. The company will be operational in another three months. Starting price for the premium fabric is ₹25,000-30,000 per metre. Digjam, which focuses on vested wool and poly wool blends, is seeing higher demand for suit and jackets this year. Almost 50 per cent of the produced units are exported to the US and Europe and the remaining cater to domestic market.

The company suffered significant loss in the export last year due to economic crisis in the US and the European Union.

Bhaskar said, “With the turn around in the economy, our sales have improved and we expect a turnover of ₹180-190 crore this year against ₹130 crore last year and growth rate of about 10-15 per cent.”

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