Welspun, one of the world’s leading home textile manufacturers, has unveiled the company’s vision for 2020 at the Welvision 2020, an iconic event, recently organized at Anjar which was attended by suppliers and partners from all over the world. Most of the US $ 700 million turnover that the company does in textiles comes from home textiles segment and the company is investing Rs. 2,500 crore over the next three years to further increase the capacity across the entire manufacturing value chain from spinning to finishing. All these investments will propel the company’s future growth to achieve the vision it has set for itself.
With a distribution network in 32 countries and manufacturing facilities in India, it is the largest exporter of home textile products from India. Supplier to 14 of top 30 global retailers, the company has marquee clients like Walmart, JCPenney, Macy’s, to name a few. Last year, the company was rated the No. 1 home textile company in the US. This is a remarkable achievement as the US is one of the biggest and most competitive markets.
In the meanwhile, Welspun is well set to achieve the target of US $ 1 billion by 2016 from the current level of around US $ 700 million through the existing expansion and business growth. The challenge will now be to double the turnover from US $ 1 billion to US $ 2 billion by 2020. The big question is whether the home textile segment alone could help achieve this ambitious target. The company realizes the need for expanding its domestic distribution network, entering new product segments and resort to diversification to achieve the vision. Accordingly, in 2013 Welspun invested in manufacturing carpets and identified this as an important growth segment with an initial investment of Rs. 250 crore. Investment is also being made in the technical textile segment with an eye on the future.
