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Trident Group to diversify into home furnishings segment

17
Aug '11
Trident Group, a leading textile firm based in Ludhiana, which is one of the leading suppliers of terry towels across the globe, is now planning diversification into home furnishings items business.

The company is looking forward to establish a new facility for home furnishing items at a cost of Rs. 23 billion. This investment would be funded through a mix of debt and internal accruals. Under the new project, the firm is planning production of a whole range of items including bed sheets, table clothes, pillow covers and curtains.

The company proposes to instate 500 looms for sheeting facility which would be utilised for home furnishing items. It is now hunting for an appropriate site in Punjab, as it is projected that a plot of around 300-400 acres would be required to set up the facility.

Also, bolstered by its rising terry towel business, the company is planning to enhance its capacity to support its better penetration in export markets, from where it draws bulk business. It will be utilising some of the funds to add new looms to its existing terry towel manufacturing facility of 300 looms.

The firm's terry towel clientele includes retail giants like Wal-Mart, JC Penney, Kmart and Target Corporation.

Trident Group is targeting to achieve a turnover of more than Rs. 15 billion during the current fiscal from its terry towel business, as against last fiscal's turnover of Rs. 12 billion.

Fibre2fashion News Desk - India


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