Reliance Industries, the world's second-largest synthetic fibre manufacturer, has entered into a brand alliance with Precot Meridian a coimbatore-based sewing threads leader to use Relianceâ€™s Recron SHT Brand on its sewing threads brand, RIL said in a statement.
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.
Apart from branding, RIL will also provide marketing and branding support to Precot to establish Recron SHT as a leading brand.
Gunjan Sharma, business head, polyester staple fibre business unit at RIL said that the alliance will ensure standardized high quality products reaching end customers and will help both companies strengthen growth and customer trust,
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 a about 85 percent 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.
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