Indian home textiles major, Welspun Group which earns one-third of its group revenue of US $ 3 billion from the textiles business is expecting a growth of 150 per cent to achieve a revenue of US $ 2.5 billion by 2020. With 65 per cent of its current sales being contributed by the US market, the company will increase its focus there along with India. 25 per cent of the sales is targeted from the planned e-commerce portal, for which the company has opened a large warehouse in Ohio.
Welspun has also planned to increase the contribution of branded products in sales to 25 per cent, from the current 11 per cent. India accounts for 36.5 per cent of the total terry towel imports into the US out of which, Welspun accounts for 16.5 per cent, followed by China at 25.9 per cent and Pakistan at 22.7 per cent.
