NEXTT Secures $2 Billion Market with Award of Patent
By Business Wire News
By Business Wire News
Nextt, a Dallas-based leader in the U.S. home textile industry, has developed a new fabric category and been awarded a patent for a distinctive weaving process that combines polyester yarns with cotton in a unique way that creates a high-thread-count, luxurious fabric which is 30 to 40 percent cheaper than 100 percent cotton. Mumbai, India-based Alok will be the leading manufacturer of the product.
Called Alpha Cotton™, the revolutionary fabric is primarily used to make sheets and already enjoys annual sales of approximately $1 billion in a category expected to grow to more than $2 billion within two years.
Nextt is participating in the 2015 New York Home Fashion Market Week, Sept. 28-Oct. 1, and is displaying its newest textiles and brands at the Nextt Showroom, 105 Madison Avenue, 4th floor, New York City.
Nextt, is a $500 million revenue, privately held company that provides textiles to all of the major U.S. retailers including Dillard’s, Belk, WalMart and Kohl’s. Nextt also has a robust portfolio of leading celebrity brands, such as Beautyrest, Ellen Tracy, Jessica McClintock and Royal Sateen.
Nextt CEO Arun Agarwal was selected as a 2014 Minority Business Leader by the Dallas Business Journal while Agarwal’s company was ranked 17th in the 2014 Dallas 100 list of fastest growing companies selected by the Caruth Institute for Entrepreneurship of SMU.
“In anticipation of explosive growth following the patent award, Nextt distribution space has already grown to 150,000 square feet with 20 additional new hires and we plan to grow the distribution to 300,000 square feet with 20-50 more jobs,” said Agarwal.
“Nextt co-developed Alpha Cotton™ with manufacturer Alok several years ago when cotton prices skyrocketed and we began selling the new fabric while pursuing a patent,” explained Agarwal. “Receiving U.S. patent #9,131,790 B2 ensures that Nextt will continue as the leader in marketing Alpha Cotton™ and will also be able to work with the FTC to maintain the integrity of the brand, especially regarding its high thread count and luxurious feel.”
Nextt is the front-end marketing arm for Alok Industries and has its headquarters and distribution facilities in Dallas, while also operating a state-of-the-art design studio and showroom in New York. Alok Industries is publicly traded and is India’s largest integrated textile company with revenues exceeding $3.5 billion and facilities spanning more than 600 acres.
Nextt is rated as the largest bedding company in North American by industry publications, as every two seconds a sheet set supplied by the company is sold. Nextt is also a diversified manufacturer of home textiles, garments, apparel fabrics and polyester yarns, selling directly to manufacturers, exporters, importers, retailers and to some of the world’s top brands. With business revenues exceeding $500 million, the company focuses on world-class infrastructure, best-in-class technology, uncompromising quality standards and dynamic product innovation. Under the leadership of CEO and Director Arun Agarwal, Nextt has established partnerships and alliances with major brands and celebrities such as Trina Turk and Kathy Ireland. The company also is a supplier to major retailers including Walmart, Target, Kohl’s, Dillard’s and Belk. For more information on Nextt, please visit http://www.nextt.com.