Welspun Living Expanding Home Textile Capacity In India & USA
Recognising the burgeoning demand for premium and stylish bath experiences, Welspun Living is investing Rs 326 crore in a state-of-the-art jacquard towel manufacturing facility at its Anjar plant.
This brownfield expansion, slated for completion by November 1, 2024, will add a staggering 6,400 metric tons per annum (MTPA) to its existing towel capacity, reaching a total of 96,400 MTPA.
“This move positions BK Goenka led Welspun Living to cater to the growing global demand for luxurious fashion and beach towels, a segment poised for significant growth,” a press release informed.
With an estimated revenue potential of Rs 400 crore at full capacity, this investment promises to be a game-changer for the company’s towel business.
Welspun Living is also setting up a fully automated pillow manufacturing unit in Ohio, USA, with an investment of US $12.5 million.
This strategic move, spearheaded by its subsidiary Welspun USA Inc., marks a significant step towards tapping into the lucrative US home textiles market.
The unit, expected to be operational by September 30, 2024, boasts a production capacity of 6.7 million pillows annually, offering a wider product range to cater to specific preferences of US consumers.
At full capacity, this facility is projected to generate an additional $50 million in revenue, solidifying Welspun Living’s presence in the US market.
