Welspun is stepping into advanced textiles segment. The big bet on advanced textiles includes making disposable towels out of non-woven textiles and filters for the auto and power sector. Advanced textiles will broadbase Welspun’s clientele by adding sectors such as auto, healthcare and FMCG.
The company is known for bed sheets and towels and has introduced reversible bed sheets and quick-dry towels. It is one of the largest suppliers of home textiles to retailers like Walmart, Costco and others. The company also sells premium licensed brand products like Wimbeldon, Nickelodeon and Disney. Branded products account for 17 per cent of its revenues. Another emerging business segment is flooring. Welspun is looking at offering luxury performance tiles, wall-to-wall carpets and artificial grass for offices and cricket fields. Currently, most wall-to-wall carpets, carpet tiles and luxury performance tiles are exported from China, USA, Belgium and Thailand. But, floorings is a huge market that Welspun now wants to cater to.
Besides retail channels, the company is also eyeing hospitality and e-commerce as future growth drivers. Growth in fiscal ’19 was in single-digit but with new products and a focus on newer channels, Welspun expects a double-digit growth this fiscal. The company expects a revenue of Rs 10,000 crores over the next four to five years.
