Published
Oct 15, 2015
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India's Welspun aims to more than double revenue by 2020

Published
Oct 15, 2015

Welspun is India's largest home textiles manufacturer, and the largest player in the American home textiles space with a 5% market share, reported The Economic Times.

Photo: Christy's


The company, which owns the Christy's brand and supplies Walmart and JC Penny, has targeted a revenue of $2.5bn by 2020. It's current revenue is $1bn. Welspun expects the US to drive growth as it plans to increase its focus in the market. At the moment, the US contributes about 65% of sales.

"As we increase our focus in the US market, with a direct online presence with an e-commerce portal, from which we see 25 per cent of our total sales to come from by 2020, we have set a revenue target of $ 2.5 billion by the turn of the decade. Though we see a major growth in Indian sales, bulk of sales will still come from the US," said Dipali Goenka, Welspun Global Brands managing director.

Around 30% of Welspun India's total sales come from patented products like Hy Grow cotton, and the company intends this to increase to 40% by 2020. Branded products account for 11% of sales currently but by 2020, the company aims for it to reach 25%.
 

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