Reliance Industries, the world’s second-largest synthetic fibre manufacturer, has entered into a brand alliance with Coimbatore-based sewing threads leader Precot Meridian.
Under the non-commercial deal, Reliance will allow the Coimbatore company to use its Recron SHT Brand on its sewing threads brand, RIL said in a statement on Tuesday.
According to an industry estimate, the grey rpt grey sewing thread market in the country is around Rs 1500 crore and polyester threads lead it with about 85 per cent share, the rest being cotton/nylon threads.
With Rs 700 rpt Rs 700 crore in sales, Precot is a leader in the domestic threads market. Out of its total income, exports contributed around Rs 200 crore last fiscal.
As per the agreement for co-branding for polyester sewing thread yarn range, Precot will manufacture grey and coloured polyester sewing thread yarns using Reliance’s Recron SHT, claimed to be one of the quality super high tenacity fibres.
This yarn will then be sold, co-branded with Recron SHT. RIL will provide marketing and branding support to Precot to establish Recron SHT as a leading brand, Sharma added.