Apparel Online Bangladesh Magazine December Issue 2018 | Page 59

RESOURCE CENTRE ‘Intelligent Automation’ is what drives Vibemac Acquisitions and mergers constitute an integral part of any corporate expansion. Today, acquisition has become one of the key business strategies employed by big business establishments. Earlier this year, when Chinese sewing technology pioneer Jack acquired 80 per cent stake in the capital of an Italian pioneer in jeans automation Vibemac for a total of EUR 23.2 million (US $ 28.6 million), it grabbed quite a few eyeballs in the industry. Few years back, not many would have thought of a Chinese company acquiring stakes in a European firm. However, the unsurpassable strides made by China in technology and innovation in recent times have made the nation a leader in technology today, and so it was no surprise to see this acquisition happen. T here is a massive opportunity in the 5-pocket jeans market within China. The collaboration between Vibemac and Jack, therefore, has been created keeping in view this potential. This alliance of the companies will result in securing a major market share for the parties involved. For either of them to do so, without the help of the other, would have been a goliath task. Team Apparel Online, in an exclusive tête-à-tête with Elena Guerreschi, CEO; Alberto Guerreschi, Business Developer; and Enrico Guerreschi, Global Sales Director of Vibemac, looked through the growth perspective of Vibemac after its collaboration with Jack. AO: Vibemac is now a part of Jack brand. But, you also hold a strong control over the management of Vibemac. How do you see this as your growth perspective? How will this collaboration actually help Vibemac? Elena: We are happy as well as positive about this collaboration and we are already working on developing new market strategies for our future growth. Vibemac will manage from the offices in Italy and China. The office in Vibemac China is still under development since we have just started this journey. We are strategising to determine the most accurate mode of approaching the Chinese market with Jack, while keeping in perspective the same logic and principles which have helped us maintain our position as the industry leader. Alberto: We are positive and, since both of us think alike, we have associated with Jack. The right way to look at it is not as a Pillars of Vibemac: (From Left to Right) Enrico Guerreschi, Sales Director; Elena Guerreschi, CEO; Carlo Guerreschi, Founder; and Alberto Guerreschi, Business Developer, Vibemac. Mrs. Guerreschi (wife of Mr. Carlo) along with her grandchild seem quite gleeful company being sold but rather a promise which has been made. There is no concept of a change of command and this is why the alliance is visionary in terms of the potential which can be achieved. China presents infinite opportunities for our sector and, with Jack, we will be able to not only tap into this potential but also achieve and maintain the market leader position. Consider the example of European automotive manufacturers which are now producing for the Chinese market in China and this alone makes up a lion’s share of their total output. Our mantra is simple: ‘Let’s grow together and let’s do the best’. AO: After this collaboration, are you going to shift your manufacturing base to China or will it still be in Italy only? Alberto: People still think there is a big gap in terms of technology between these two countries but that’s not true anymore. Jack is making considerable investment to www.apparelresources.com | December 2018 | Apparel Online Bangladesh 59