NEW DELHI: Textile manufacturer OCM India has entered into tie-up with Burlington WorldWide to produce and sell enhanced wool fabrics under the Burlington brand name in the Indian market. OCM India is now owned by WL Ross & Co.
The partnership will provide OCM with all necessary technical and manufacturing support. It will also help the company to develop and operate an export program for the sale of OCM products in the US, Europe and Asian markets. OCM will double its production capacity with an investment of Rs 12 crore as part of the partnership deal. The Company will double the plant capacity to 4 million metres from 2 million meters.
As per the agreement, Burlington will give marketing and commercial support to OCM for the domestic market. It will also provide support for the development of advanced manufacturing processes and operations and the development of new wool fabrics.
The company expects that exports will start contributing 25% to the overall revenue and will help to recapture the domestic apparel market this year. The company is hoping to register a revenue of Rs 125 crore by this year end.
The partnership will provide the technical know-how in product development, raw-material buying and technical services to OCM. OCM is also in talks with Indian retailers for tie-ups in apparel retailing.
OCM is one of the leading brands in the worsted fabric market and well known for its tweed and jacket suiting. OCM started as a manufacturer of handmade carpets and carpet yarn more than 75 years ago. Later, the company was converted to manufacturing worsted fabric by the Birlas. It was sold by the S K Birla group to WL Ross & Co in February 2007, for Rs 170-crore.