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Welspun India, one of the largest suppliers of home textiles to retailers like Walmart, Costco and others, is focussing on the domestic market; even as it eyes ₹10,000 crore of revenue over the next four to five years.
While bedsheets and towels continue to be amongst its two most popular offerings, the company is planning to bring premium offerings in flooring solutions like artificial grass and carpet tiles.
Welspun India reported net sales of about ₹6,608 crore with a profit before tax and exceptional item of ₹552 crore in FY19. Exports to markets like US, Europe and the Middle East account for over 90 per cent of its turnover.
In the home textiles category, offerings will be expanded into flooring solutions and other adjacencies. Welspun operates in India through an eponymous brand (‘Welspun’) in the mass market; while ‘Spaces’ is its premium brand here. The mass market segment is pegged at ₹6,000 crore.
Altaf Jiwani, CFO, Welspun India, said that the company will look at “differentiated offerings” here. For instance, it has introduced ‘reversible bed sheets’ and quick-dry towels. It has also roped in actor Amitabh Bachchan as the brand ambassador. The company also sells premium licensed brand products like Wimbeldon, Nickelodeon and Disney. Branded products account for 17 per cent of its revenues.
“We are continuously working on innovation and adding new products to our portfolio. Advanced textiles are something that we are looking at in the coming days,” he told BusinessLine.
Apart from retail channels, the company is also eyeing hospitality and e-commerce as future growth drivers. “Growth in FY19 was in single-digit but with new products and focus on newer channels, we expect a double-digit growth this fiscal,” he added.
New Segment
The big bet on “advanced textiles” includes making disposable towels out of non-woven textiles and filters for auto and power sector. Advanced textile will broadbase its clientele by adding sectors such as auto, healthcare and FMCG.
The second emerging business segment is flooring. Welspun is looking at offering luxury performance tiles, wall-to-wall carpets and artificial grass for offices, cricket fields.
Jiwani said that the company is investing nearly ₹1,100 crore in its Hyderabad facility and offerings are expected to hit the market “any time soon”.
“Currently, most wall-to-wall carpets, carpet tiles, luxury performance tiles are exported from China, USA, Belgium, Thailand. But, floorings is a huge market that we now want to cater to. Over the next 4-5 years, the advanced textiles and floorings segment has the potential to generate ₹3,000 crore of revenue,” he said.