With the help of a Turkish distributor, Xeros has entered into a licencing and distribution arrangement that will expand its reach to Asia and provide it access to new markets in Europe, Brazil, and Mexico.
The Rotherham company, which creates technologies to lessen the environmental impact of garments, has granted KRM Tekstil Boya San Tic Ltd., a licence to distribute and sell machines built in Istanbul by Yilmak Makine that use its unique technology.
In all of its denim processing, apparel processing, and dyeing procedures, Yilmak makes use of Xeros’ XDrum and XOrb technology.
One of the biggest producers of garment finishing machines worldwide, Yilmak was founded in 1968 and has its headquarters in Istanbul, Turkey. It exports goods to more than 35 different nations and provides machinery to more than 500 enterprises.
The Agreement enables Xeros to reinforce its present market access into Asia and dramatically expand it into additional regions like Europe, Brazil, and Mexico. Over the course of the 10-year agreement, significant revenues may be generated. By 2033.1, the market for textile machines is anticipated to be worth $52 billion.
Globally, about 2 billion pairs of jeans are produced each year, and Xeros’ technology drastically reduces the amount of water, chemical, and cycle time needed to turn raw denim jeans into finished consumer goods.
Neil Austin, CEO of Xeros, said: “The apparel industry is estimated to consume over 93 billion cubic metres of water every year in the production of clothing.2 In an industry under increasing pressure from both consumers and legislators to reduce its impact on the planet, technologies like ours can make a significant impact.”
Under the terms of the Agreement, Xeros will receive a royalty per XDrum machine sold by KRM as well as supplying it with XOrbs.