 The rapid development of Karaburma during the Interbellum is connected with the development of the textile industry and the business enterprises of the Ilić family, especially Vlada Ilić was an industrialist and mayor of Belgrade from 1935 to 1939.In 1897, German entrepreneurs Eugen Michael and Carl Wolf founded a cloth factory in Karaburma, near the modern "Velje Miljkovića" Street.Kosta Ilić, father of Vlada, purchased the factory in 1906, in partnership with his sons.