Welspun Eyes 150% Jump In Textiles Sales By 2020
Welspun, India’s largest home textiles manufacturer, has set a target of more than doubling its revenue to 2.5 billion US dollar by 2020.
The Mumbai-based Welspun Group, which is also the single largest player in the 17-billion US dollar American home textiles space with a 5 per cent market share, nets one-third or one billion US dollar of its group revenue of 3 billion US dollar from the textiles business now.
The company expects the higher growth will again be driven by the US market as it plans to increase its focus in the world’s largest textiles market further.
“Over the years, we’ve been successful in changing the contours of the US home textiles market with our innovative products and added customer focus.
“Today, Indian companies together dominate the US market with 11 per cent of the total 17 billion US dollar home textiles market,” Dipali Goenka, Welspun Global Brands managing director said.
“As we increase our focus in the US market, with a direct online presence, we see 25 per cent of our total sales to come from by 2020, we have set a revenue target of 2.5 billion US dollar by the turn of the decade. Though we see a major growth in Indian sales, bulk of which will still come from the US,” she added.