Global textile manufacturer Himatsingka’s recently introduced brand Himêya aims to establish a presence in 10,000 stores in India with a first target of 1,000 stores by the first quarter of next year, said Akanksha Himatsingka, CEO, Home Textile Solutions.

The brand, which was originally launched in 2019, was initially positioned to cater to the high-end/premium segment. Fast forward to September 2023, and the brand has pivoted towards accessibility, offering products ranging across various price points. 

“We are offering products starting from a price point of Rs. 299 for a bath towel and sheet set of Rs. 1399—these are all aggressive price points, and over the years we’ve continued to evolve in a way and have now become extremely diverse in our offering,” Himatsingka told businessline. Further, she highlighted the brand’s evolution to cater to diverse preferences and aesthetics.  

So far, it has established a presence in 70–80 multi-brand outlets, mostly in large-format stores and online and aims to generate Rs. 1000 crore over the next 5 years from the brand. “We will now be focused on growing our market presence in India and aim to achieve our target revenue,” she added.  

The company reported a significant improvement in its second quarter performance, with a 17 per cent YoY growth in total income to Rs. 748.15 crore compared to Rs. 639.68 crore in Q2 FY23. While PAT for Q2 FY24 stood at ₹28.78 crores compared to a loss of Rs. 33.89 crore in the same quarter last year. 

The improvement is attributed to improved capacity utilization levels, softening raw material costs, and marginalizing energy costs.  

In addition, speaking about the global demand environment, the company does not see any massive fluctuations primarily because of its diverse spread. According to Himatsingka, “Today, we work with some of the large Fortune 500 clients, and they don’t really have volatilities of this kind, and largely demand remains consistent. However, we remain cautiously optimistic.” 

Moreover, they also believe in the need to be able to diversify across markets, which also led to India foraying into a market that holds a lot of potential, she added.  

The integrated textile group, with a global footprint spread across North America, Europe, and Asia, designs, develops, manufactures, and distributes a range of textile products. 

On its manufacturing capacity front, there are no immediate plans for adding capacity. Currently, it operates a 400-acre campus in Karnataka and manufactures bedding, bath, drapery, upholstery, and yarn products.