Next Creations, Alok Form Joint Venture

NEW YORK--Next Creations, parent company of Raymond Waites Design, and Alok International have formed a joint venture called Next Creations Holdings.

Alok is an India-based manufacturer of finished home textiles, fabric, yarn and polyester. 

Under the terms of the agreement, Michael Vidra, president and chief executive officer of Next Creations, will assume those positions with Next Creations Holdings. Arun Agarwal, president and CEO of Alok, will become a member of the new company's board of directors--along with Kevin Sapin, Next Creations' executive vice president.

In a statement from Next Creations Holdings, Agarwal said the joint venture makes "a compelling proposition to the retail community." Next Creations completed its acquisition of all the shares of Raymond Waites Design on Jan. 1 of this year.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.