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Friday, 30 November 2018

Welspun aims for 50% revenue from innovative products

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Welspun India, Indian textile manufacturer known as Asia’s biggest Terry Towel producer, is expecting to fetch 50 per cent of its total revenue from innovation-based items by the FY 2021-22.

In a statement issued, Dipali Goenka, CEO & JMD, Welspun India affirmed the media that the company is expecting revenue from innovation-based products to grow significantly in the years to come.

“We see around 50 per cent of our total income from innovation-based products. We expect this to take place by the year 2022. Our innovation-based products are in-line to the customers,” Dipali added.

It is pertinent to mark out that currently, about 25 to 30 per cent of the Indian textile manufacturer’s revenue comes via innovation-based products.

Furthermore, the CEO added that at present, the company is not looking to expand its capital any further and it is focussing on optimising the investment in the next 2-3 years, that the brand managed to generate so far.

Notably, earlier this month, the textile company announced that it is planning to invest about Rs. 900 crores during the current fiscal year. Reportedly, Rs. 320 crores out of the said investment have been made in the first half. For the same period, the company also reported a revenue of Rs. 3,375.6 crores.


Source: https://in.apparelresources.com