Textile manufacturer Welspun Living is expanding its jacquard towel capacity with a 6,400 mtpa plant in Anjar. To be set up with an investment of Rs 400 crore, the plant will be operational by November 2024. It will facilitate Welspun’s market penetration in the beach and fashion category besides expanding its offerings in the kitchen and bath robes segment.
Welspun is also setting up a Greenfield plant to manufacture pillows in Ohio, US with an initial capacity of 6.7 million pillows. The company will invest $50 million in this new facility, which is expected to be operational by September 2024.
Pillows are the second most sold category after bath towels in the home textile sector. In 2022, nearly 250 million units were sold, with the US market valued at approximately $2.8 billion, projected to grow to $3.6 billion by 2026. This new plant taps into nearshoring opportunities by increasing production capacity closer to the US market.
The brand ‘Welspun’ continues to strengthen its leadership position as the most widely distributed home textile brand in India, with a presence in over 600 towns and 20,282 outlets, an increase of 9,112 in FY24. The flooring business recorded its highest ever yearly revenue of Rs. 9,269 million at an EBITDA of 8.3 per cent, reflecting a growth of 31.4 per cent in FY24. Emerging businesses, including domestic consumer, branded, advanced textiles, and flooring, grew by 16 per cent in FY24, contributing 33 per cennt to the total consolidated sales.
