Textile manufacturer Vescom is investing heavily in the relaunch of Raymakers, the historic velour factory in Helmond. Shortly after acquiring the bankrupt company, Vescom announced a strategic expansion with the acquisition of the Italian brand Redaelli 1893.
© Green Raymakers
Production
Redaelli, specialising in high-quality velour fabrics, was until recently part of Gruppo Marzotto. Although the brand is Italian, production largely took place in the Czech Republic. Vescom is now incorporating this production into Raymakers, with locations in Helmond and Gemert.
The integration of Redaelli represents a significant increase in production volume and employment at Raymakers. CEO Philippe van Esch expects the acquisition to create dozens of new jobs. Financial details of the transaction were not disclosed, but it involves a multi-million investment. Redaelli had an annual turnover of about 17 million euros a few years ago.
According to Van Esch, the addition of Redaelli offers a valuable complement to Raymakers' existing range: 'The fabrics of Redaelli stand out for their sheen and appearance. This allows us to tap into new market segments, including the higher luxury segment.'
Redaelli fabrics are used in interior applications such as curtains and upholstery, as well as in the fashion industry. The Italian fashion brand Zegna uses the fabrics for exclusive men's clothing, among others.
Conversations
The acquisition is the result of discussions that took place even before Raymakers went bankrupt. After the relaunch late last year, these talks were resumed and successfully concluded.
Vescom, with an annual turnover of around 110 million euros, specialises in wall and upholstery coverings and has branches worldwide. Van Esch, who has led the family business since 1997, emphasises that the company remains focused on quality and craftsmanship: 'The market for velours continues to exist but requires a new approach. Not based on volume and price, but on expertise.'
Vescom plans to establish a centre of expertise for weaving, dyeing, and finishing velour fabrics. The completion of the acquisition is expected in the third quarter of this year, followed by full integration in the fourth quarter.
Source: ED