Big opportunity out there for India to make a mark in global home furnishing industry: Kailash R. Lalpuria, ED and CEO, Indo Count Industries
India’s largest manufacturer, exporter of bed-linen and recognised among the top three global bed sheet suppliers to the US, 33-years-old Indo Count Industries Limited (ICIL), Mumbai is working with many big-box retailers like Walmart, Target, Kohl’s, Costco, TJ Maxx, ASDA, The White Company and JCPenney… Overall exporting its products to 50 countries, the company in FY ’21 registered a record volume growth of 26 per cent to 78.2 million metres and its revenue from operations grew on a consolidated basis by 21 per cent to Rs. 2,519 crore while net profit was up by 241 per cent to Rs. 249 crore. Indo Count is growing by around 15 per cent CAGR which is further expected to grow more aggressively as market development is in favour of the industry as well as the company. In an interview with Apparel Resources, CA. Kailash R. Lalpuria, ED and CEO of the company shared the future plans and focus of the company, further directions of the home furnishing market…
Market momentum
With an overall experience of around four decades and expertise in strategic growth, planning of joint ventures, developing the overseas sales team, business development, sales and marketing, Kailash R. Lalpuria is highly optimistic about the future scenario of the home furnishing industry as well as good growth of his company.
“I strongly believe that there is overall good demand and Indian textile sector is well-positioned. Due to work from home, there will be a structural shift as people are spending more time at home and accordingly, some of the product categories will perform better. It will help the industry to grow further. India has a formidable presence and position in the home furnishing industry and buyers are looking at India as an alternative to China,” he says and further adds that to grab these opportunities, Indo Count is already aggressively active on all fronts be its own brands, collaboration on the international front, presence of various retail platforms.
As per him, cotton ban and increasing cost issues in China are also helping India. At the same time, China is focusing on its domestic market. Buyers are also working on the China plus one policy to spread their supply chains elsewhere and India will be gaining due to this.
“The fashion bedding is a category where China has a share of 75 per cent while India has a share of 5 per cent to 6 per cent only. Even if India gets 10 per cent of products like fashion bedding, comforts, quilts, mattresses etc., which are the strength of China, it will be a huge growth opportunity for Indian companies in the next few years,” he says.
Indo Count is focusing on sheet set, fashion bedding which are bound to grow in the next 3-4 years. It is projected that about 30 per cent revenue of the company will be from fashion utility and institutional bedding in the next few years which is currently around 15 per cent. These segments are more margin-driven, so the margin of the company shall also grow.
