Digjam inks JV with Scotland-based Holland and Sherry

Digjam has entered a 51:49 joint venture partnership with Scotland-based premium fabric player Holland and Sherry for distributing their products in India. There will be two persons each from Digjam and Holland and Sherry on the board of the newly formed company, Holland and Sherry India.

Digjam will also make use of Holland and Sherry’s network to distribute former’s products. In the long run, Digjam may also start manufacturing certain Holland and Sherry products at its facility in Jamnagar, Gujarat, which has an annual production capacity of five million metres of clothes. The company is looking to register a turnover of Rs 160 crores in 2015-16 from Rs 130 crores last year. Nearly 50 percent of the company's revenues are driven by exports. The newly formed JV will also strengthen its presence in the woollen and worsted fabric market.

After creating a strong brand-recall in 1980s, the brand suffered a set-back due to debt because of its investments in OCM and Saurashtra Chemicals. Now, the company has managed to clear the debt from its books and is looking forward to bounce back by merging with its subsidiary Digjam Textiles in March/April 2016, strengthening its dealer network by adding 10 more distributors, 300 multi brand outlets and seven brand outlets and establishing a strong product portfolio with blends of worsted wool fabric, cotton, linen, lycra and silk blends.