Raymond Ltd, the textile and apparel conglomerate, and Uco NV, the European denim specialist, have merged to form Raymond Uco Denim Private Ltd. The joint venture company, with its executive headquarters in Belgium, will engage in manufacturing over 80 million meters per annum across the US, European and Asian markets while operating an expansive global marketing network.

Until recently, Uco NV had produced and sold a diversified portfolio of denim for casual wear, and is best known in Europe known for its colored denims. The company reported a turnover of 104 million euros last year. Incorporated in 1925, Raymond Ltd. occupied a significant share in the premium denim fabric market in India, with a turnover of USD 500 million.

Raymond Uco Denim is now geared to becoming a leading supplier of premium denim fabric in the global market, with a powerful product innovation and design team behind it. Earlier this month, Raymond Ltd. transferred its denim business to the joint venture company, while Uco NV transferred its stake in its denim subsidiary (comprising Uco Sportswear Ghent-Belgium, Uco Fabrics Rockingham-USA, Uco Tesatura Giurgiu-Romania). The executive committee of Raymond Uco Denim now consists of Alain Vermeersch, CEO; Sanjeev Vijay, CFO; and Bart Van De Woestijne, CMO.