The company plans to upgrade its product portfolio with value-addition by entering into joint venture projects with other brands while focusing on research and development
Sri Lanka’s leading textile company, Teejay Group has embarked on an expansion of its Indian manufacturing plant in Vizag. The USD 26 million project is anticipated to increase the daily capacity of Teejay India by 20 tonnes, thereby enhancing output to 55 tonnes in daily capacity. The utilisation of expanded capacity is expected to begin production during FY 2021-22 and utilisation of full capacity will begin during FY 2022-23. The project was embarked upon as a response to the growth in the global retail apparel market and businesses shifting to the Southeast Asia region. The plant will have flexible knitting machines converting cotton to synthetic fabric as we believe the demand for synthetics is poised to expand by leaps and bounds.
The ongoing US-China trade war has worked in favour of Sri Lanka as orders were moved away from the region to the Southeast Asian countries. Teejay Group benefited from this relocation trend as it operates production facilities in both India and Sri Lanka. Looking to explore new growth avenues amidst the gloom, Teejay Group saw an opportunity in the personal protective equipment (PPE) market and was quick to commence the manufacture of PPE fabric to compensate for the reduction in capacity for strategic orders. The group remains focused on its target of achieving USD 300 million in turnover.
Product Development
On the product development and innovation side, Teejay Group will continue to upgrade its product portfolio with value-addition by entering into joint venture projects with other brands on their innovation journey and research and development efforts. Teejay Lanka invested in an innovation centre and is geared to develop new, innovative fabrics. The thrust at the centre will be on designing sustainable products, which have a positive impact on the environment. Along with the major investment in India, Teejay Group is increasing production capacity and internal capabilities in Sri Lanka through modernisation of technical machinery for dyeing and printing processes.
Highly experienced team members have been recruited to lead this effort to meet evolving customer demands. While increasing production, Teejay Group is managing water consumption and effluents to meet the highest environmental standards. Nurturing a culture of innovative excellence, the company is well-placed as one of the region’s largest textile manufacturers with manufacturing operations in Sri Lanka and India, supplying fabric to some of the leading international brands. It enjoys the status of being the only multinational textile mill in Sri Lanka and also operates a modern printing plant.
The group offers a wide range of products and services related to weft knit manufacturing which also includes lace dyeing, yarn dyeing, cotton and synthetic fabric production. Teejay Group’s fabrics are sourced by leading global brands across intimates to sleep wear, lingerie and active wear. It has earned a reputation for quality and customer service combined with the ability to meet end-to-end fast-evolving customer needs in the fashion retail industry, further underscored by its innovation and research capabilities. Its customer portfolio comprises leading retail brands from Europe, USA to Asia.
Brand Portfolio
Teejay Group performed strongly in strategic brand segments. PVH is the main strategic brand for the company and it was able to record the highest sales revenue for any single brand thus far. Another strategic brand, Nike, doubled the turnover last year, making it the fastest growing customer within a span of two years. Nike and PVH are key partnerships that Teejay Group is committed to nurture going ahead.