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AfricaMoney | August 19, 2017

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Ferney Spinning Mills may soon be strategic supplier to Benetton

Ferney Spinning Mills may soon be strategic supplier to Benetton

Mauritius-based textile yarn producer Ferney Spinning Mills (FSM) is in active negotiations with global retail giant Benetton to be taken on board as a strategic supplier.

Mauritius-based textile yarn producer Ferney Spinning Mills (FSM) is in active negotiations with global retail giant Benetton to be taken on board as a strategic supplier.

Mushtaq Sooltangos, General Manager of FSM, revealed that Benetton is looking for a strategic supplier to outsource manufacturing of woolen thread. While the retail giant, trading across New York, Milan and Frankfurt, has an in-house spinning facility, but in the long term, it wants to keep outsourcing options open for obvious reasons of profitability, he noted. At this stage, FSM has already made several presentations highlighting its expertise to officials at Benetton, he added.

Besides showcasing their expertise, FSM also focused on its strong values and professional culture. All these elements are important to work with a partner as prestigious as Benetton, Sooltangos emphasized.

In addition to discussions with Benetton, FSM can already count on a strong partnership with Marks & Spencer, its biggest customer. For the fiscal year ending June 30, FSM achieved a record year in terms of volume of yarn produced for Marks & Spencer. Currently, 30% of its production is for this one global client alone.

As part of strengthening its partnership with Marks & Spencer, FSM is also launching offerings in the booming segment of Ladies wear. The company hopes to dispatch its first order in this range before the end of this year. The Ladies wear segment could open new avenues for future growth, because it represents the largest share of the business of knitwear.

Besides tying up with leading international brands, FSM is always on the lookout for new customers. After participation in prestigious trade fairs such as Milano Unica, Il Filao de Milan and Première Vision à Paris, the Mauritian spinner is in discussion with four to five potential customers to provide Italian wool.

FSM, which produces 1600 tons of yarn and wool annually – of which 1000 tonnes are used by CIEL Group fellow subsidiary Floreal Knitwear Ltd – has invested Rs 30 million in a new production line, operational since January. For the fiscal year ended June 30, FSM achieved a turnover of Rs 692 million. And, the coming year looks even more promising for the enterprising company, as its order book is teeming with names as on date.

Source: Business Magazine

Company Profile

Ferney Spinning Mills

Ferney Spinning Mills is a subsidiary of Mauritius-based CIEL Textiles, a world-class multi-product textile and clothing group leader in the Sub Saharan African Region. The CIEL Group is one of the leading industrial and investment groups, based in Mauritius, with operations in a number of African and Asian countries. The core activities of the Ggoup are textiles, financial services and investment, tourism, property development and sugar.

Coming back to FSM, the company is a modern and progressive woolen yarn producer that manufactures classic, fashion and technical quality yarns for the knitwear industry on a global scale. It is also the leading partner in producing and promoting organic woolen yarns.

Created in 1978, the company was initially set-up to supply only Floreal Knitwear, a fellow subsidiary of CIEL. Today, it supplies yarn to knitwear companies in Europe, Asia and Africa as well as retailers around the world.

FSM has a purpose-built R&D section that can produce new yarns from design ideas within 48 hours of conception. This dedicated R&D team works continuously on the creation of new developments and the optimization of quality.

FSM’s production facility uses modern machinery and employs efficient production techniques that provide customers with an excellent level of quality and service.

Source: Company Website

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