Welspun global strategy for future growth

Welspun, a global leader in home textiles, is steadily expanding into flooring solutions, advanced textiles, e-commerce, hospitality and wellness which offer significant future growth opportunities.

The US hospitality market is estimated at $1.5 billion (i.e., for towels and sheets). Welspun’s marketshare is currently around 3% of this market, which clearly indicates huge growth potential. The company is planning major business expansion in the hospitality business globally as well as in India.

Another major opportunity is in the wellness market. The high potential global wellness economy is estimated at $3.7 trillion. Welspun has partnered with Stay Well to tap the global wellness potential. Stay Well infuses wellness into hotel rooms with features and programs to maximise the guest experience and minimise the impact that travel has on the human body.

Welspun is also actively working on opportunities in technical and advanced textiles. The company has developed products for specialized use in healthcare, fire departments, aerospace, defense, automobile, railways and other utilities. These products have features such as fire retardants, stain resistant, anti-bacterial, PET resistant, and soil resistance, among others. This segment contributed to 2% of sales in FY18. The company’s advanced textile division has qualified as a supplier to one of the world’s largest players in wet-wipes.

The other major market which the company is looking to tap is in bedding. There is a large untapped opportunity in basic bedding, comforters and quilts. Currently, China dominates the market. India is gradually making inroads. This segment contributed to 3% of sales in FY18.

Welspun is setting up a fully integrated and independent flooring business. The company aims to become a one-stop flooring solutions provider for domestic and international markets. The new facility will be located in Telangana at an investment Rs. 11 billion with a capacity of 27 million sq. metres per annum. Commercial production is expected to start in the third quarter of 2020. The company has already participated in two global shows – Domotex, Germany and AceTech exhibitions across India.

Mr. B.K. Goenka, Chairman, Welspun Group, said: “We continue focusing on the domestic market and building a strong B2C presence. Our new initiatives such as flooring solutions, advanced textiles, e-commerce and hospitality are contributing towards sustainable growth. Branding, innovation and sustainability continue to be the cornerstones of our strategy.”

Welspun India Ltd., part of the $2.3 billion Welspun Group, is one of the world’s largest home textile manufacturers. With a distribution network in more than 50 countries and world-class manufacturing facilities in India, it is the largest exporter of home textile products from India. Welspun is supplier to 17 of top 30 global retailers.

“We continue focusing on the domestic market and building a strong B2C presence. Our new initiatives such as flooring solutions, advanced textiles, e-commerce and hospitality are contributing towards sustainable growth. Branding, innovation and sustainability continue to be the cornerstones of our strategy.”

– Mr. B.K. Goenka, Chairman, Welspun Group