Our revenue growth in India is likely to outpace that in other markets
Renfro Corporation, one of the world's largest producers of socks, recently landed a deal with Walmart that anticipates creating about 440 jobs at Renfro's manufacturing facility in Fort Payne, Alabama, as part of Walmart's January 2013 US Manufacturing Commitment to buy an additional $250 billion of US products supporting American jobs over 10 years. Renfro Corporation is a long time manufacturer of socks for Walmart under brands such as Fruit of the Loom, Russell, Dr Scholl's, Faded Glory, among others. With changes in energy costs and labour costs overseas, it is increasingly cost-effective and efficient to manufacture closest to the point of consumption, helping Walmart respond to trends and customer demand. Subir Ghosh spoke to senior officials from Renfro about the significance of the deal, especially keeping global trends and processes in mind.
Please tell us more about this new deal with Walmart. After all, if I am not wrong, Renfro has been selling socks to Walmart since the 1970s.
Renfro Corporation has had a manufacturing facility in Fort Payne since the 1980s. Could you tell us more about the ups and downs with the manufacturing facility there?
Fort Payne itself was once known as the Sock Capital of the World, but over time the title seemed to have lost its significance. How do you react to that?
US President Donald Trump wants jobs back in the US. But given your global presence, how do you plan to tread that thin line between manufacturing relatively expensive products in the US, and relatively cheaper products outside?
Four years from now, Renfro would be completing 100 years. How do you look at the past?
And what about the future? Are you planning for the next 100 years, or are you looking only at the immediate future?
You have manufacturing and distribution facilities across the world. Do you have expansion plans charted out?
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.