ITM Grows Contract by 50%, Acquires Trilix
August 28, 2003
KRUISHOUTEM, Belgium — In what has been described by its founder as the largest effort in its 13-year history, ITM has hired three new designers, expanded its contract lines and made an acquisition in the last six months.
"The contract portion of ITM's upholstery business has been 50 percent of our business but today, it is 75 percent and our fastest growing segment," said Dirk Malfait, founder and president. "We purchased Trilix, an unbelievable opportunity for us. We believe in our ability to create our own collections but the timing was right for both parties."
Trilix, a contract specialist, owned by Goeri Vanacker, brings strong customers and agents to the ITM equation, Malfait said.
Specifically, the acquisition gives ITM added clout in the Middle East, Scandinavia, France, Japan and New Zealand. "Previously, these were small markets for ITM but now they are bigger. The U.K. and the U.S.A. are very active markets in contract; Cypress, Malta and Spain are active project markets. The hotel industry is picking up in the U.S.A."
ITM's design team will manage the newly acquired collections.
"We have streamlined our sales operations in contract. The customer can order one piece per color. We're very flexible in middle to upper price points. All of our jacquard designs are online. The cut cards are linked to the looms. Everything is designed for speed. We can deliver in four weeks or even one week if necessary. We keep 25 beams in stock at all times and have 2,500 yarns in storage at the mill."
As part of the contract expansion, Malfait has added 10 new qualities. These include acrylic chenille fill with polyester warps; wool warps with viscose fillings; a Trevira®CS collection with nine standard warps; 100-percent bright polyester warp with polyester chenille fill; a linen quality with cotton warps and linen weft; a very heavy tapestry-quality fabric with high picks and rayon weft, viscose warp; four new yarns in mixtures of boucle and chenille; four different plains in many solid colors with structure.
The new design team, fresh from design school, includes Marika Depaepe, Catherine DeDecker and Elise Vermeiren. They are designing on a new German-made Fischer CAD system for jacquard designs.
The company was previously owned by Goeri Vanacker who is now area sales manager for England and America, ITM's two biggest export markets. Dennis Verraes is handling Holland and Belgium, very important markets to ITM.
Based in Deerlijk, Trilux has developed six ranges with 140 designs. The reworked classical collections will be presented at Decosit for the first time.
"Classical designs are selling well in the contract market and we are glad to have been able to make this deal with Goeri," said Malfait. The addition represents the largest collection ever produced by ITM, which also added a 4,000-square-meter warehouse two years ago that can house the new collections.
ITM itself was acquired by Clarysse – all but 25 percent owned by Malfait — about two years ago. Malfait's two brothers left the company at the time of the buyout, but Dirk Malfait stayed on as the CEO. He says that Clarysse backs him with a strong financial base. "We were strong before but we're even stronger now," he said. Clarysse has a turnover of $50 million. ITM has sales of $11 million and aims to generate $15 million in 2003, said Malfait.
"The contract portion of ITM's upholstery business has been 50 percent of our business but today, it is 75 percent and our fastest growing segment," said Dirk Malfait, founder and president. "We purchased Trilix, an unbelievable opportunity for us. We believe in our ability to create our own collections but the timing was right for both parties."
Trilix, a contract specialist, owned by Goeri Vanacker, brings strong customers and agents to the ITM equation, Malfait said.
Specifically, the acquisition gives ITM added clout in the Middle East, Scandinavia, France, Japan and New Zealand. "Previously, these were small markets for ITM but now they are bigger. The U.K. and the U.S.A. are very active markets in contract; Cypress, Malta and Spain are active project markets. The hotel industry is picking up in the U.S.A."
ITM's design team will manage the newly acquired collections.
"We have streamlined our sales operations in contract. The customer can order one piece per color. We're very flexible in middle to upper price points. All of our jacquard designs are online. The cut cards are linked to the looms. Everything is designed for speed. We can deliver in four weeks or even one week if necessary. We keep 25 beams in stock at all times and have 2,500 yarns in storage at the mill."
As part of the contract expansion, Malfait has added 10 new qualities. These include acrylic chenille fill with polyester warps; wool warps with viscose fillings; a Trevira®CS collection with nine standard warps; 100-percent bright polyester warp with polyester chenille fill; a linen quality with cotton warps and linen weft; a very heavy tapestry-quality fabric with high picks and rayon weft, viscose warp; four new yarns in mixtures of boucle and chenille; four different plains in many solid colors with structure.
The new design team, fresh from design school, includes Marika Depaepe, Catherine DeDecker and Elise Vermeiren. They are designing on a new German-made Fischer CAD system for jacquard designs.
The company was previously owned by Goeri Vanacker who is now area sales manager for England and America, ITM's two biggest export markets. Dennis Verraes is handling Holland and Belgium, very important markets to ITM.
Based in Deerlijk, Trilux has developed six ranges with 140 designs. The reworked classical collections will be presented at Decosit for the first time.
"Classical designs are selling well in the contract market and we are glad to have been able to make this deal with Goeri," said Malfait. The addition represents the largest collection ever produced by ITM, which also added a 4,000-square-meter warehouse two years ago that can house the new collections.
ITM itself was acquired by Clarysse – all but 25 percent owned by Malfait — about two years ago. Malfait's two brothers left the company at the time of the buyout, but Dirk Malfait stayed on as the CEO. He says that Clarysse backs him with a strong financial base. "We were strong before but we're even stronger now," he said. Clarysse has a turnover of $50 million. ITM has sales of $11 million and aims to generate $15 million in 2003, said Malfait.
