Alok, Next Creations enter JV

Alok International, the US subsidiary of Alok Industries, has formed a joint venture agreement

with a US-based company Next Creations. The joint venture will strengthen each company’s business opportunities. While the new company called Next Creations Holdings will involve all of Next Creations designs, including its branded businesses and its license for Charisma home textiles products as well as private labels.

The motive to set up a subsidiary in the US was to provide forward integration to US retailers by strengthening the distribution channel and to help Alok enter into strategic partnerships in the US. This channel is used to increase business with the existing customers and further widening the customer base. Also it will help Alok to penetrate markets in South America.

Alok was established in 1986 as a private limited company, with their first polyester texturising plant being set up in 1989. It became a public limited company in 1993. Over the years, the company has expanded into weaving, knitting, processing, home textiles and garments. To ensure quality and cost efficiencies, they have integrated backward into cotton spinning and manufacturing partially oriented yarn through the continuous polymerization route.