Filatex Fashions is acquiring a 51 per cent stake in Isabella. Isabella is a Sri Lankan apparel manufacturer.

Isabella, for more than 25 years, has been manufacturing and supplying socks and tights to clients in Germany, France, Canada and the Czech Republic. It is the second largest manufacturer of socks and tights in South Asia, with a capacity of 48 million pairs.Isabella, which has a workforce of over 2,000 people and boasts of a backward integrated manufacturing process, produces a wide variety of socks using various yarns made from cotton, bamboo, viscose and acrylic.

Filatex Fashions is a socks maker and has a plant in Hyderabad, India with a capacity to make seven million socks. Filatex is augmenting the yarn manufacturing and polymerisation capacity of its plants in Dadra and Dahej from .033 million MT per annum to 3.65 lakh MT by next year.The polyester yarn manufacturer, based in New Delhi, will also set up a captive power plant to reduce energy costs. The company, which exports manmade yarn to 34 countries, also has in the pipeline a fabric plant to make fabrics from the yarn it produces. Its yarn is used in the manufacture of carpets, rugs, tapes, ribbons and zippers.