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Welspun to more than double revenues by 2020

One of India’s largest home textile manufacturer, Welspun has set a target of more than doubling its revenue to 2.5 billion dollars by 2020. According to the estimates, the Mumbai-based company, which is also the single largest player in the 17 billion dollars American home textiles space with a five percent market share, gets almost one-third or one billion dollars of its group revenue of three billion dollars from the textiles business.

The company also ventured into the ecommerce space by launching an online portal, Shopwelspun.com, which will offer brands such as SPACES Home & Beyond, Welhome and Spun, covering products such as rugs, carpets as well as bed and bath products. In order to enhance customer engagement and interaction, the portal will feature user-generated content and blogs from experts on home furnishing trends and home decor tips. The company expects this channel to contribute 25 percent to its total sales by 2020.

It recently bagged the license to supply towels to the teams vying for the coveted 2015 Rugby World Cup in the UK. This is not the first time that Welspun's towels made at its manufacturing capacities in Gujarat are making their presence at a global sporting event. In 2006, the company held license to manufacture towels for the Wimbledon tennis tournament.

The company has emerged strong in manufacturing textiles—towels and bed sheets. Around 95 per cent of Welspun’s revenue is driven by exports to global retailers in the US such as Walmart Stores and JCPenney. Companies like Welspun are also investing in research and development (R&D) to innovate and grow their business. The company has applied for six patents in Europe, the US, Brazil, China, Korea and Australia for its creations such as natural finish fabric, ergonomics mattress pad and eco-dry towels that use little water during washing. It has already got patents for Hygrocotton that has a hollow core for fluffiness, temperature control and moisture wicking, from the UK and the US in the past two years.

www.welspunindia.com

 
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