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Coimbatore-headquartered Sharadha Terry Products has unveiled a new brand identity and logo for the ‘Micro Cotton’ brand of home textile products and reaffirmed its commitment to strengthen its presence in India.
Its Director, D Vikram Krishna, told BusinessLine that the company was one of the first from India to launch a brand in the home textiles product range as early as the late 1990s.
“We launched Micro Cotton in New York first. Our products are now sold across 30 countries worldwide. This re-branding reaffirms the evolution of the brand and our vision for the future, in the luxury home textiles product range.”
Studies reveal that the Indian luxury market is worth over $18 billion, and growing at over 30 per cent year-on-year.
“Indian consumers have lots of exposure to international brands today. They have started to appreciate and endorse quality brands. We, therefore, feel it is the perfect time to carve a niche for our products here,” he added.
The company has chalked out a roadmap to strengthen its presence in India. It is looking to sell the Micro Cotton product range in 20,000 retail outlets by 2020, a 10-fold increase from its present network of 2,000, through retail partners and modern trade outlets.
“We expect our sales revenue to touch ₹200 crore by 2020,” Krishna said.
Sharadha Terry products range include bath, hair and wash towels, sports towel and all types of bed-linen, including bed sheets, comforters and blankets, among others.
Brand identity, logoKrishna said the company had roped in Bengaluru-based Happy McGarry Bowen to do the creative work and invested close to ₹90 lakh, so far, in developing its brand identity and logo. “We have to start work on brand promotion,” he added.
The company’s production facility at Mettupalayam was upgraded recently.
This unit, along with another facility at Annur, is engaged in making towels, while sheeting is made at Sharadha Terry’s sister concern in Perundurai.
To a query on its growth in 2017, Krishna said, “It has been a year of moderate growth for us. We have grown at 5-8 per cent compared to the previous year. We are quite upbeat about the prospects for the coming year.”
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