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Welspun aims 150% sales boost to $2.5 bn by 2020
16 Oct '15
2 min read
India's largest and the world's third-largest home textiles manufacturer, Welspun, has set an ambitious target of more than doubling its revenue to $2.5 billion in the next five years, according to a media report.
The Mumbai-headquartered Welspun Group, has a market share of 5 per cent in the $17-billion American home textiles space. It rakes in $1 billion of its group revenue of $3 billion from the textiles business.
"We have set a revenue target of $2.5 billion by the turn of the decade. We also expect 25 per cent of sales to come from branded products, which is only around 11 per cent now,” Dipali Goenka, Welspun Global Brands managing director told a news agency in Manhattan.
The company expects the higher growth will again be driven by the US market as it plans to increase its focus in the world's largest textiles market further. The US contributes around 65 per cent of the total sales now.
Goenka said around 31 per cent of total sales come from innovative, patented products like HyGro cotton, and though the company is present in 50 countries, it manufactures all its products at its two Gujarat plants at Anjar and Vapi.
The company aims to notch up 40 per cent of sales from innovative products by 2020. The company has also targeted taking the overall branded sales or direct sales to end-users to 25 per cent by 2020, she said. (SH)
The Mumbai-headquartered Welspun Group, has a market share of 5 per cent in the $17-billion American home textiles space. It rakes in $1 billion of its group revenue of $3 billion from the textiles business.
"We have set a revenue target of $2.5 billion by the turn of the decade. We also expect 25 per cent of sales to come from branded products, which is only around 11 per cent now,” Dipali Goenka, Welspun Global Brands managing director told a news agency in Manhattan.
The company expects the higher growth will again be driven by the US market as it plans to increase its focus in the world's largest textiles market further. The US contributes around 65 per cent of the total sales now.
Goenka said around 31 per cent of total sales come from innovative, patented products like HyGro cotton, and though the company is present in 50 countries, it manufactures all its products at its two Gujarat plants at Anjar and Vapi.
The company aims to notch up 40 per cent of sales from innovative products by 2020. The company has also targeted taking the overall branded sales or direct sales to end-users to 25 per cent by 2020, she said. (SH)
Fibre2Fashion News Desk – India
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