Led by Ranjan Mahtani, Executive Chairman, Epic Group, and Vijay Agarwal, Chairman, Creative Group along with Vishwanshu and Arunanshu Agarwal, have formally entered into a strategic joint venture to establish a new entity named Spectra.
Beginning with an MoU signed on January 9, 2025, this collaboration has progressed with the signing of a shareholder agreement and an initial investment of $15 million. The long-term objective of this venture is to achieve a scale of Rs 500 crore.
Spectra's first announced project is set to be India's largest sustainable denim and bottoms facility. This initial undertaking has the potential to revolutionize the Indian denim and bottoms industry and become one of the country's largest operations of its kind, featuring a top-tier production facility capable of manufacturing 700,000 pieces per month.
According to the companies, the new facility will be powered by renewable energy, create employment for 3,000 people in phase one (expanding to over 10,000), drive innovation, and establish new benchmarks in denim manufacturing. The venture is also committed to community development and sustainable growth.
