Material Exchange buys Italian consultancy
Digital sourcing hub Material Exchange has acquired Italian consultancy Overseas Textile Service (OTS), which supports brands from the design phase to the final product.
OTS co-founder by Denis Dotto said he sees the industry shifting towards digital sourcing.
He said: “A digitised industry seems far away today, but the world is moving very fast. If we wait until people are ready to take advantage of these digital tools, we will be too late. People think it’s too complicated – and it is complicated, but it will save us time and money. This change needs to happen.”
The idea for the Material Exchange was formed in 2018 when a group of industry professionals reimagined the process of sourcing materials for footwear and apparel.
In 2021, Material Exchange bought Olah Inc. Andrew Olah is now Material Exhange’s chief of textiles and Emily Olah is vice-president of strategic partnerships. Zaki Saleemi, formerly of denim mills Crescent Bahuman (CBL) and Rajby, has recently been appointed senior vice president of global sales.
As part of the platform, the Deadstock Showroom hosts suppliers’ excess material, with the aim of reducing waste.
