Karur (India)-based home furnishing exporter Hi-Power Textiles is planning to go for expansion.
The company will make an investment of around Rs. 25 crores as part of its expansion plan. It will also increase its staff. Currently, it has 300 employees. The numbers will grow to 1,000 in the next five years.
It aims to expand in all the processes right from weaving and dyeing to stitching.
The home furnishing supplier produces items like bed linen, table linen, kitchen linen, etc. It has its own weaving and dyeing unit as well.
At present, Hi-Power Textiles is exporting mainly to the US, the UK, Germany, France. It works for buyers like Victoria Classic, Bed Bath and Beyond, etc.
Hi-Power Textiles’ move to expand is a bold step considering the continuous and diverse challenges that India and overseas markets possess.
The OEKO-TEX SA 8000-2008 certified company aims to touch a turnover of Rs. 100 crores in the next five years. Presently, its business stands at Rs. 22 crores.
S. Subramani, MD of the company and a textile engineer informed Apparel Resources, “We know that this target is a little difficult to achieve but we’ll keep trying for it. We are looking for more customers. We are putting a lot of efforts in marketing as well.”