Roman sees no changes at Revman
Carole Sloan -- Home Textiles Today, February 24, 2003
Although Mexican textiles corporation Grupo Kaltex has taken a majority stake in Revman Industries, neither the management structure nor the operation of the U.S. business is expected to change, Revman president and ceo Rich Roman told HTT.
Kaltex, a vertically integrated textiles complex, acquired the 15-year-old home textiles supplier and marketer earlier this month through an all-stock transaction. Revman's senior management team — Roman and Norm Savaria, senior vp and chief merchandising officer – are also taking a stake in the company under its current structure, Roman said.
Founded as a textiles converter in the late 1940s, Kaltex produces fiber, spin yarn, weave, knit, dye, print and fashion fabrics for the home textiles and apparel industries and exports to North America, Europe, Central America and South America.
It has also been Revman's biggest supplier for the past four to five years, Roman said, "and [it] will continue to be."
Although he would not disclose what portion of Revman's product Kaltex produces, he said he does not anticipate a shift toward more Kaltex production now that Kaltex owns the majority of the company.
"We will continue to source all over the world for the product needed for our brands and our customers." Those brands, produced under license, include Tommy Hilfiger, Nicole Miller, Laura Ashley, Echo Home, Marimekko, Kravat and P.O.S.H.
Exiting an ownership stake in the company under the deal is the Japanese retail conglomerate Aeon Group, previously Jusco, formerly a controlling owner.
"A couple of years ago it became clear that we didn't fit their strategy and portfolio," Roman said. "We were their only marketing company."
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