Welspun India’s textile business has been growing at 15 per cent and in the coming year, it expects a growth of five to seven per cent. It is in the process of establishing a new supply chain system in textiles which was never there before by introducing RFID. RFID will help it track the entire supply chain.
Welspun has put up a team in Egypt to source cotton and thereafter all processes from spinning to weaving and processing will be in house. ‘Tilt’, the smart textile launched in the US market, is the company’s patented product and will be a new way of looking at textiles. In the next three or five years, futuristic textiles may be the way forward. As the consumer moves in smart cars and gets into smart homes, Welspun would like to bring in smart textiles to them.
Welspun’s total income from operations jumped 22 per cent in July to September 2016 from the same quarter last year. The company achieved its highest quarterly top line during the quarter. Welspun plans to expand its focus on branded and innovative products to become a two billion dollar company in four years, with 20 per cent revenue coming in from domestic sales.