Mr Kailash Lalpuria
In an exclusive interview with the TVC Media Team, Mr Kailash Lalpuria, Executive Director and CEO of Indo Count Industries Limited, provided insights into the company’s recent advancements and future strategies.
Indo Count, a specialised bedding provider, is committed to delivering comprehensive sleep solutions globally. Their dedication and expansive vision have enabled them to penetrate 49 markets, with plans to expand further annually. Serving as a prominent partner for renowned retail, hospitality, and fashion brands, Indo Count prides itself on its rapid, adaptable approach to meeting client needs.
Mr Kailash R. Lalpuria, a distinguished figure in the textile sector, boasts over four decades of experience, leveraging his expertise in Strategic Growth, Mergers & Acquisitions, Business Development, Sales & Marketing, and Customer Relationship Management. Having held key roles in prestigious textile companies like Welspun and Bombay Dyeing, his qualifications as a Chartered Accountant and a Science Graduate underscore his proficiency in the industry.
Can you share some details about the design and materials used in this collection?
We are very excited to launch new collections in our both brands, Boutique Living and Layers. We are aiming to see how we can distribute our brand more effectively to Indian consumers, with a lot of points of sale not only in the existing territories where we serve but also in some new distribution areas where we will certainly launch our boutique brands.
These brands cater to both the mid to high segment of the marketplace, and Layers is a value-driven brand serving the mass market. We are making an attempt to improve our service with better distribution and product range while also addressing sustainability by incorporating biodegradable fibres like Tencel and some products with recycled fibres, encouraging Indian consumers to contribute towards sustainability.
What kind of fibres do you use for the bed sheets in these segments?
Mostly, we try to use Indian cotton because India has a good supply chain for cotton. In some ranges, we also use biodegradable fibres like Tencel, and we are exploring the use of other natural fibres like linen and other innovative fibres that address sustainability factors. This way, we provide not only fashionable products but also contribute to sustainability.
Indocount has always been focused on exports, and now you are applying a retail strategy.
What is the strategy for Indian retail?
In retail, our brand is already present in 22 states, and we are expanding to add new states for distribution. We are addressing key customers in those states who have large format stores and a good distribution presence. We are focusing on multi-brand outlets and large format stores, where we find good traction for our products. We are offering new products to appeal to the millennial and Gen Z demographics. Additionally, we are enhancing our distribution through our own website, boutiquecleaningindia.com, and partnering with major e-platforms like Amazon and Flipkart to promote our D2C brand.
Recently, you had a joint venture with a US company. What is the motive and strategy behind that?
We acquired the intellectual property of the Wamsutta brand, which has been a national brand in the US for over 178 years. The brand carries a rich legacy and has an 80% brand recall value in the US market. It is also registered in 45 other countries. This acquisition provides us the opportunity to promote Wamsutta in North America and other major markets like Japan, Korea, Australia, Russia, Europe, and the UK. Wamsutta is an upscale brand that addresses the premium segment, allowing us to elevate our product offerings to a higher market tier.
Is the Wamsutta brand also launched in India?
We have plans to study the brand thoroughly before launching it in India. Our initial focus is on the North American market, and we will apply our learnings to the Indian market in due time.
Where will the production for this brand take place?
Production will be done in India, but the brand allows us to diversify into other product mixes like towels, rugs, and window treatments. We are establishing a US office to outsource products not manufactured in India, sourcing from countries like China, Pakistan, Bangladesh, Turkey, and Portugal.
What is the current status of Wamsutta’s production?
There is no production of the Wamsutta brand in the US; we only purchased the IP from Overstock.com. The brand existed previously under Bed Bath & Beyond, which acquired it from Springs Industries.
What do you anticipate for your overall revenue?
Currently, we export 95% of our products, while domestic sales account for 2.5% of our revenue. We aim to double our revenue in the next 3-4 years, targeting around 6000 crores, with domestic sales contributing 4-5% of that total.
Given the geopolitical situation, how do you foresee the export market in the coming years?
While the geopolitical situation presents challenges, we are focused on ensuring supply chain security. We are investing in our supply chain and hedging raw materials to ensure timely production and shipment. Despite these challenges, we have achieved a 27% growth in revenue and a 26% increase in volume this year.
How do you plan to manage the cultural mindset shift from export to retail?
We treat every business segment as important, regardless of size. The Indian market is large but unorganised, which presents an opportunity for growth. We believe the upcoming economic changes will allow us to scale our business effectively, and we are committed to building our presence in the Indian market.
Are you planning to open retail shops in other countries?
Currently, we are focusing on distribution, but we are not ruling out the idea of exclusive outlets if consumer demand arises. With the Wamsutta brand, we may consider a flagship store in the US to showcase our capabilities and enhance brand visibility.
How will you promote your existing brands alongside Wamsutta?
The branded segment is becoming increasingly important for us. We are enriching our product mix to support our brands and promote them to Indian consumers. As Indian consumers become more aspirational, we aim to cater to their needs and grow our branded segment significantly in the next 3-4 years.
In conclusion, Mr Kailash Lalpuria’s insights highlight Indo Count Industries’ strategic shift towards enhancing its retail presence while maintaining a strong export foundation. The company’s commitment to sustainability, innovative product offerings, and expansion into new markets, particularly through the acquisition of the Wamsutta brand, positions it well for future growth. With plans to double revenue and increase domestic market share, Indo Count is poised to capitalise on the evolving consumer landscape and the growing demand for quality bedding products.
