On December 20th, Coats Group, the world’s leading fabric manufacturer, announced the acquisition of ThreadSol, a clothing technology company, for $12 million.

The Coats Group pays $5 million for the down payment, and the remaining $7 million will be paid by 2022.

In 2013, ThreadSol was founded in Delhi, India, and is headquartered in Singapore, a cloud-based digital provider. The company has a digital center in India and has branches in Bangladesh, China, Indonesia, Sri Lanka and Vietnam. They use big data analytics and artificial intelligence to develop systems IntelloCut, IntelloBuy and Intello3C to help apparel manufacturers purchase fabrics, reduce purchase time and costs, and increase material utilization.

At present, the company has more than 100 employees and serves 130 brands and companies in 13 countries. Each year, about 1.5 billion garments are produced through its digital platform. It is estimated that ThreadSol’s sales will reach about $2.3 million in 2018.

Coats Group has always been very concerned about future business development, and is also very concerned about forward-looking technology companies. They said that the big data analytics and artificial intelligence technologies used by ThreadSol are well suited to help the group grow its global business. ThreadSol’s assistive software for apparel and footwear production will help brands, retailers and manufacturers increase productivity, strengthen control of the supply chain and accelerate new product speeds.

Rajiv Sharma, CEO of Coats Group, said the acquisition will greatly contribute to the company’s future. ThreadSol also with the previous acquisition of high-performance yarn company, waterproof fabric companies Gotex and technology company Fast React Systems mutual synergistic effect, helping the company better and faster business development.

ThreadSol co-founder Manasij Ganguli said that the cooperation with Coats Group for the company’s development and business expansion is a very important step. Coats Group’s strong background helps them expand globally and has the opportunity to work with the world’s leading brands and vendors.

Two weeks ago, Coats Group also made a strategic investment in Israeli digital printing and dyeing company Twine Solutions. Although the company only has a minority stake of 9.5%, it still enters the board and has the right to use the Twine Solutions digital dyeing system.

About Coats Group
Coats Group is a British multinational company, the world’s largest manufacturer, distributor and supplier of sewing threads and the second largest manufacturer of zippers and fasteners after YKK.