The Hindu Business Line : Donear eyes high-end textile blends

The Senior Vice-President of Donear Industries, Mr G.M. Thapar, told Business Line that the company has emerged as one of the fastest growing textile brand in the country with a compounded annual growth rate of about 40 per cent.

In order to consolidate its market share in the domestic markets and also increase its exports, the company is in the process of finalising the new manufacturing plant in J&K.

"The company is cash rich and the funds would be part funded through internal accruals and part debt component or even a public offer. The details of the proposed funds are yet to be finalised. However, we are awaiting the J&K Government's nod to set up the plant. We initially decided that the new plant would be either in Himachal Pradesh or J&K. Given the Central Government encouragement to attract new companies to J&K, we have zeroed in on this State," he explained.

Mr Thapar, who was in Hyderabad to galvanise the company's dealer network, said they had teamed up with a clothing company based in Europe to help introduce superfine blends of wool.

"We have embarked on a major marketing blitz particularly in the South where the company sales are relatively less compared to other regions. Even the exports that are now at about Rs 20 crore are set to go up to Rs 30 crore this year. The exports mainly are directed to the UK, Turkey and West Asia. The company's manufacturing base located at Silvassa, Gujarat caters to both yarn and textiles where the latter contributes a major part out of the Rs 200 crore turnover," he said.

"Of the branded market that accounts for about 30 per cent of the country's textile market, Donear accounts for about 20 per cent. We are in the process of consolidating our textile brands and soon plan to foray into readymade market. The entry into readymade garments is well thought out and we expect to commence this by the end of the year," Mr Thapar said.

"We are different from other textile manufacturers, both in terms of marketing approach as also in branding the products. Predominantly, the focus is on gifting and the textiles come in attractive packaging. This is something that differentiates our marketing approach. Having made significant inroads into various parts of the country, this year, we expect to consolidate our presence in Andhra Pradesh and Tamil Nadu, which are big markets. The company has about 175 dealers now, and expect to add few more depending upon the requirements," he said.

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