Coats makes new acquisition as it builds software business
20/12/2018
ThreadSol’s technology focuses on fabric usage optimisation in apparel manufacturing and helps customers reduce fabric waste and cost, and establish accurate product costing.
It uses proprietary algorithms built on artificial neural networks to optimise the purchasing and consumption of fabric by real-time data analytics. This reduces costs and waste through cut-plan process and fabric roll utilisation which helps solve what Coats has called “one of the most pressing and complex problems in the apparel supply chain”.
Coats chief executive, Rajiv Sharma, said on making the announcement: “ThreadSol is an exciting acquisition that supports a key aspect of our growth strategy: to build an innovative software solutions business for the apparel and footwear industries. We will be able to draw upon our demonstrable track record of successfully integrating bolt-on companies following the acquisitions of Patrick Yarn Mill, Gotex and Fast React Systems, all of which are performing well under our ownership.’
ThreadSol was founded in Delhi in 2013 but now has its headquarters in Singapore. It has development centres across India as well as representative offices in Bangladesh, China, Indonesia, Sri Lanka and Vietnam and plans more than 1.5 billion garments every year through its platform. In 2018, its sales will be circa $2.3 million. The acquisition is for a cash consideration of up to $12 million.
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