New Delhi, September 28, 2018: Vardhaman Textiles Ltd announced today its partnership with Reliance Industries Limited (RIL). Suchita Jain, the Joint Managing Director of Vardhman Textiles Limited, signed an agreement with Reliance Industries Limited on September 26, 2018, for co-creation and promotion of fabrics and yarns made by using the new age fibers and filaments developed by Reliance under their brand R| Elan.
After signing the agreement, Jain said, “We see many exciting possibilities with R|Elan to create new fabric developments. Our strengths have always been rapid innovation and creating strong product ranges that are acceptable to brands, and Reliance is the perfect partner for our developments. The technical team at R|Elan is very supportive in enhancing our manufacturing prowess.”
The partnership will provide a major fillip to Reliance Industries’ new-age fabric R|Elan, Vardhman Textiles and RIL, will produce innovative fabric including R|Elan Green Gold– manufactured by recycling used PET bottles, and used in trousers and denim.
As a part of this partnership, RIL’s R|Elan technical team will work closely with Vardhman for developing new manufacturing processes to manufacture specially engineered R|Elan fabrics. R|Elan is a new-age fabric brand from Reliance Industries and its technical team will assist in providing technical know-how and specifications that will result in the production of best quality fabric.
The high-quality fabric collection will straddle across the performance and sustainable themes in formals, casuals and other women wear segments.
The agreement was signed by Suchita Jain, Joint managing Director, Vardhman Textiles and Gunjan Sharma, CEO, polyester division, RIL.
Sharma expressed his happiness at this association and threw light on how this partnership will not only create opportunities for entire textile value chain, including brands and apparel manufactures but will also ensure to meet the growing demand for high quality fabric.
R|Elan is a portfolio of innovative fabrics with a presence in segments like active wear, denim, ethnic and western wear- both formals and casuals. Active wear is convenient clothing, which boosts the physical performance and eases body movements, especially used for enhancing comfort in fitness and sports activities.
Interestingly, of the total INR 2.5 lakh crore apparel industry, active wear segment has 10-15% market share (that is, INR 2500 crore), while ethnic wear and sarees, the largest apparel sub-segment, commands INR 60,000 crore share. The denim segment is worth INR 20,000 crore.