Terry towels added to product range
The Himatsingka Group has embarked on an aggressive expansion plan at an outlay of Rs. 1,281 crores to expand the group’s manufacturing facilities at Hassan. The investment is for an increase in the group’s current sheeting capacity, backward integration into spinning and a foray into terry towels. The investment will be carried out in phases over the next three years.
The Himatsingka Group is a vertically integrated home textile group that manufactures, retails and distributes bedding, bath, drapery, upholstery and lifestyle accessory products. It operates two manufacturing facilities in India and retail and distribution businesses across North America, Europe and Asia.
With an installed capacity of 25 mmpa, the group is amongst the largest manufacturers of drapery, upholstery and bedding products out of India. The manufacturing facilities are state-of-the-art and vertically integrated.
Commenting on the expansion, the company Executive Director, Mr. Shrikant Himatsingka, said: “These growth initiatives are synergistic with our current nature and scale of operations, and they will help consolidate the group’s position in the global home textile space”.
As part of the expansion, the Himatsingka Group is doubling its existing sheeting capacity from 23 million meters per annum to 46 million meters per annum. The group is also backward integrating by setting up capacity for spinning. The company will be installing for the first time 211,000 spindles. Similarly Himatsingka is also making an entry into the terry towels segment by setting up a capacity for 25,000 tons per annum.
The enhanced integration and increase in manufacturing capacities synchronize well with the strong foothold the group has on the global retail and distribution front. The group has over 12 global brands, including marquee brands like Calvin Klein Home, Barbara Bany, Esprit and Bellora. With a strong foothold in the private label space, the group is exploring various initiatives to augment its brand and private label portfolios.