CIEL Textile And The SOCOTA Group Seal An Important Agreement To Boost Woven Fabric Production In The Region

Mauritius, August 26th 2021 – CIEL Textile, through its subsidiary Aquarelle, and the SOCOTA grouptoday signed a strategic partnership for the creation of the largest woven fabric mill in the IndianOcean region.

Eric Dorchies, CEO of CIEL Textile

The 50-50 joint-venture agreement will see the emergence of a joint mill in Madagascar with a trulyregional and qualitative offer, endowed with a strong production capacity.

The current COTONA site (SOCOTA group), which adjoins the existing operations of CIEL Textile inAntsirabe, will be extended and the industrial equipment of the CFL (Aquarelle) fabric mill based inSolitude, Mauritius, gradually transferred.

With themission to “improve fashion everyday”, CIEL group offers a wide variety of products, services and innovativesolutions to its clients around the world. Each year, 38M pcs of garments are created with passion by the18,000 talents of CIEL Textile through its 18 production units across Mauritius, Madagascar, India andBangladesh.

Véronique Auger, CEO of the textile and clothing division of the SOCOTA Group

“This transaction reinforces the relevance of our regional strategy, leveraging on the complementary positioning of the two countries, Mauritius and Madagascar, to build a truly attractive supply zone.Thanks to this new partnership with one of the main regional textile players, combining over 90 yearsof expertise in woven fabric, we are giving a real boost to fabric production in the region and openingsignificant growth opportunities. We will be able to offer quality products, a short leadtime betweenfabric and clothing, with enhanced traceability. At the same time, we will continue to grow and developour operations in Mauritius and Asia” commented Eric Dorchies, CEO of CIEL Textile.

With 60 years of experience in the textile industry, first in Madagascar and then in Mauritius, the SOCOTAgroup has integrated downstream towards the clothing industry in the early 2000s. It has quickly establisheditself as a one-stop shop for woven, offering a range of products covering all types of clothing. Proud of itsMalagasy heritage, the group has also diversified into the agri-food and real estate sectors in Madagascar,Mauritius and France.

“This partnership between SOCOTA and CIEL Textile strengthens our two groups by pooling togetherour know-how in woven fabric. The creation of a major player in textile production in AntsirabeMadagascar on the COTONA site considerably reinforces the attractiveness of the country thanks tothe upstream implementation of a competitive fabric offer accessible to all players in the clothingindustry in Madagascar. We are convinced that this consolidation will allow Madagascar to seize newopportunities at a time when many retailers are looking for alternatives to their China or South EastAsia sourcing” said Véronique Auger, CEO of the textile and clothing division of the SOCOTA Group.

This new strategic transaction at a time of a major global crisis confirms the good momentum of CIELTextile, which operates 18 production sites in 4 different countries and reinforces its leadershipposition in the region. CIEL Textile has been established in Madagascar since 1989 with to date 6factories including 3 located in Antsirabe where the group has invested in a cutting-edge industrialsite which already employs more than 5,000 people. This new project will create new jobs and will bea real showcase of the Group’s industrial know-how.

The SOCOTA group remains, more than ever, engaged in its textile and clothing activities in order tocontribute to strengthening a major and unique textile production pool in Antsirabe out of Africa.Despite the current health crisis, this agreement opens a new page in SOCOTA’s history in Madagascar.

It once again demonstrates the resilience and dynamics of the SOCOTA Group as well as itscommitment to continue to serve its customers while contributing to the development of thecommunities of Vakinankaratra.

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