Home / Knowledge / News / Textiles / Himatsingka to focus more strongly on domestic market
Himatsingka to focus more strongly on domestic market
10
Nov '10
Himatsingka Seide Limited announced the roadmap for achieving revenues of Rs. 2500 crores over the next four years. To this effect, Himatsingka will introduce a new brand in the home furnishings vertical which will cater to the mid-market segment. Himatsingka plans to open 120 stores across the country for the new brand. It will also enhance the retail presence of its luxury brand 'atmosphere' from the present 14 stores to 25-30 stores.

Over the last three years, Himatsingka has invested Rs. 1100 crores, in setting up a Rs. 500 crores Greenfield Bed Linen manufacturing facility & in developing global distribution capabilities in the Home Textile space via acquisitions In Europe & in the United States. With this Himatsingka has a global presence & a strong portfolio of brands which includes Atmosphere, Bellora (the luxury Italian Bedding brand) and licenses for Calvin Klein Home and Barbara Barry.

The second phase of growth and expansion will see Himatsingka develop a strong presence In the Indian market while continuing to grow its market presence in other geographies.

With its expansion in the retail space, the company is aiming to have a total of approximately 150 stores, which includes adding 15 new exclusive stores for its luxury brand atmosphere & 120 exclusive stores for its new brand in the mid-price segment. Himatsingka is targeting to achieve revenues of about Rs 650 - 700 crores from Its Indian retail portfolio over the next four to five years.

For Q2 FY11, Consolidated Revenues grew by 22.8% to Rs 360 crores as compared to Rs.293 crores in Q2 FYl0. Consolidated Net Profit during the same period grew by 40.40% to Rs. 10.10 crores, as compared to Rs. 7.19 crores during the same period last year.

Speaking at a press briefing, Mr. Dinesh Himatsingka, Managing Director Himatsingka Seide said, "I believe our initiatives to enhance our presence in India is both strategic and timely. It will give us a truly global presence and ensure that our expertise in Product Development, Manufacturing and Distribution are optimally harnessed to address the immense potential in emerging markets like India".

Mr. Shrikant Himatsingka, Executive Director, Himatsingka Seide said "We envisage the home textile market in India to grow to approximately RS.30,000 crores by 2015. It is prudent for us to build on our current retail presence and ensure that we are well positioned to address the needs of this growing market".

Himatsingka Seide Limited


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Warangal textile park gets environment clearance

The Kakatiya Mega Textile Park, coming up in Warangal district of...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X