Coats Expands Footprint in Footwear Component Market With Purchase of Rhenoflex
Coats, a leading industrial thread producer in the world, has bought Rhenoflex GmbH (Rhenoflex), one of the finest companies in the world at making sustainable reinforcement solutions for the footwear and accessories industries.
When Coats and Rhenoflex come together, it gives Coats a chance to build a leading global platform for footwear parts and strengthen its position in global footwear.
Rhenoflex provides the luxury industry with high-performance footwear reinforcement parts such as heel counters, toe puffs, interlinings, and eyelets, as well as sustainable lifestyle reinforcement materials.
It has manufacturing operations in Vietnam, China, and Germany, which puts it close to major manufacturing hubs for brands of footwear and high-end fashion accessories. The company's focus on sustainability and its reputation as a leader in technology will make Coats' innovative products even better.
Rajiv Sharma, Group Chief Executive, said:
"We are delighted to announce the acquisition of Rhenoflex, which is a complementary addition to Coats. Rhenoflex is a high-quality business focused on sustainability and innovation and presents an exciting opportunity for Coats to establish a leading global platform in footwear components."