The Ludhiana based company Trident, world's largest terry towel manufacturer, is planning to add new products which include throws, rugs, pillows as it aims to be a complete home textile brand besides expanding the retail network here.
Trident CEO-India Marketing Rajneesh Bhatia said that the company wants to become an Rs 1,000 crore domestic brand by 2020 by doubling every year. The company wants to achieve these by adding new categories and enhancing brand presence.
He further said that gradually as they will increase their market share in India the shift will then be 60-65 percent from the US market, 20- 25 per cent from Europe and rest of the world and around 15-20 percent from the domestic market in the next 2-3 years.
The company gets 70 percent of its sales from the US market, 20 per cent from rest of the world and 10 percent from the domestic market in the bed and bath linen segment.
The company had forayed into the home textiles market along with its first towel manufacturing unit in 1998. In 2016, it had added bed linen to the portfolio.
Trident has become the world's largest towel producer by doubling its towel manufacturing capacity in 2014-15 to 90,000 mtpa, which is 360 million pieces produced per annum.
According to Bhatia, the domestic home textiles market, which is estimated to be around Rs 25,000 crore, has huge potential as the organised segment has only 10 percent of it.
On Trident group's projection in the domestic market, Bhatia said that Bed and Bath for was around Rs 125 crore in FY17, and they are expecting to double to Rs 250 crore this fiscal and Rs 500 crore next fiscal.
It also plans to expand its retail footprint to 1,000 points of sales, which are in shop-in-a-shop format by next year from the present 400.
Currently towel is utilised at 61 percent and Bed Linen at 55 percent. At the optimal utilisation levels they can reach Rs 6,500 crore revenues at the current product mix on further investment in manufacturing. The company has invested about Rs 2,700 crore till 2015- 16 and has adding new capacity in yarn, bed and bath linen.
Trident has manufacturing facilities at Barnala, Punjab and Budni, Madhya Pradesh and caters to a customer base of over 100 countries across the globe.
In 2016-17, Trident group had a consolidated income of Rs 4,847.27 crore.
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