Socks manufacturer and exporter Ritex Overseas aims to achieve a turnover of Rs. 300 crore before branching out into other verticals. The company also plans to expand its machines inventory from the current 3,000 to 4,000.

Ritex Overseas has an established research division focusing on socks. The division covers everything from design to yarn development. The company also exports its products to brands like the French luxury fashion house Balmain and plans to expand its export market.

Targeting the mass market, Ritex Overseas plans to produce high-quality products and offer them at lower prices to its customers. Although Ritex was incorporated in 1997, it began its journey in 1980 as Goswami Hosiery Works, initially specialising in socks dyeing before starting manufacturing in 1984. The company currently boasts a monthly production capacity of 2.5 million pairs of socks, utilising the latest knitting machines, according to Gopal Goswami, MD, Ritex Overseas.

Currently having a turnover of around Rs 60 crore -65 crore, the company plans to increase this Rs100 crore in this fiscal year.