Lux Industries revenue has grown 13 per cent for the year. In the current quarter the company has launched India’s first scented vest range under Lux Cozi. To fight the rising mercury during summers the refreshing scented vests will be a landmark product in the men’s innerwear category.
Lux aims at doubling production capacity over the next three or four years. Lux is one of India’s largest hosiery producers and exporters. It has set a turnover target of Rs 1,500 crores by 2020 and constantly adds new and innovative products for gaining a significant domestic and overseas market share. It manufactures 20 crore garment pieces a year, which is one of the largest in the Indian innerwear sector. Lux has invested in enhanced manufacturing automation (ultrasonic cutting systems) for increasing efficiency and global competitiveness. The company’s products are manufactured in-house with zero outsourcing. Lux has a 20 per cent share of the organised hosiery industry. Lux, incorporated in 1995, has invested in 350 fully automated circular knitting machines, cutting machines, knitting machines and has set up an integrated unit across knitting, processing and cutting which will enhance efficiency, productivity and profitability.
The Indian innerwear market is projected to grow to a level of Rs 47,000 crores by 2020.