MAJESTIC BUYS MINORITY STAKE IN FABRICS ON-LINE SERVICE
NEW YORK — Majestic Mills, a producer of corduroy fabrics here, has acquired a minority interest in Fabrics On-Line, Yardley, Pa., an online information service for the textile and apparel industry.
FOL lists fabric offerings from more than 70 suppliers, and buyers with modem-equipped personal computers can access the files with queries regarding style, mill, quality, width, content or any combination of those.
Fred Baumgarten, president of Majestic, who now sits on FOL’s board of directors, said he made the investment “because of the passage of GATT and the developing global marketplace. “The future of the converter,” Baumgarten added, “and for much of the fabric business, depends on expeditious response to the demands of the retailer.”
FOL, in addition to its Yardley offices, has one here. It is run by the husband and wife team of Jacques and Sheryl Sapriel. It has also recently doubled its staff to four, with the addition of Charles Eichorn, who will handle sales, and Karen Brook, who will oversee supplier relations.