Aditya Birla Group's Grasim Industries has drawn up capital expenditure plan of Rs 150 crore for product development, R&D and business development for its new fabric brand Liva in the next fiscal, the company's Managing Director KK Maheshwri told a news agency.
Liva- a fibre brand launched earlier this year is targeted at retail customers. With the usage of viscose staple fibre (VSF) already rising among domestic processors, VSF-made winter collection is expected to go up from 20 lakh garments this year to about 50 lakh garments next winter season, Maheshwari said.Aditya Birla Group's Grasim Industries has drawn up capital expenditure plan of Rs 150 crore for product development, R&D and business development#
Grasim Industries had enhanced its VSF production capacity in March from 1,20,000 tonnes per annum to 5,00,000 tpa with the completion of the last phase of its greenfield project at Vilayat in Gujarat. The company sells about 3,00,000 tonnes of VSF in domestic market and the rest is exported.
Globally, the annual demand growth for VSF is about four per cent. According to Maheshwari, the biggest challenge is to widen the market base by promoting garments made of VSF.
Maheshwari said the growing consumer demand for natural and comfortable fabrics in India is an opportunity for Grasim to reach out to the consumer with the Liva brand.
The company has partnered with designers to reach the end-consumer. Grasim has been supplying the fibre to major fashion and home textile brands like Pantaloon, Van Heusen, Global Desi, Allen Solly and is looking at tie ups with more brands, he said. (SH)
Fibre2Fashion News Desk – India
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