A prominent global player in the home textile industry, Welspun India, has received approval from the Odisha Government for a massive investment proposal. According to reliable sources in the media, the company is set to invest Rs. 3000 crores, with a significant portion dedicated to the textile segment. An official announcement from Welspun is expected to be made soon.
Welspun has been making waves in the industry with its transformative journey. The company’s commitment to excellence and continuous improvement has positioned it as a trusted brand and a market leader. With an annual manufacturing capacity of 90,000 MT of Bath Linen, 108 million metres of Bed Linen, and 12 million square metres of Rugs and Carpets, Welspun has established itself as a force to be reckoned with.
As the world’s largest vertically integrated facility for home textiles, Welspun’s manufacturing facilities in Gujarat and Telangana reflect the company’s dedication to sustainability. These facilities consistently exhibit outstanding performance in environmental indices, emphasising high levels of water and energy efficiency. Continuous innovation, smarter product development, and sustainable processes remain at the core of Welspun’s manufacturing philosophy.
The global home textiles industry, valued at $119.09 billion in 2022, is projected to grow at a CAGR of 5.7% by 2028, reaching $174.14 billion. Welspun dominates the Asia-Pacific region, with a market share exceeding 45% in 2021. The company is poised for robust growth, driven by real estate investment and a rising demand for affordable housing.
In the bed linen market, projected to exceed $35.81 billion by 2028, changing consumer preferences and lifestyle trends contribute to market growth. The global bath linen market, expected to reach $18.57 billion by 2028, anticipates substantial growth, especially in bath towels, driven by online sales channels and personalised offerings.
Home textiles play a vital role in home decor in India, and Welspun stands as a key player in the Indian home textile industry. Welspun India Limited, a part of the Welspun Group, reported strong performance in FY23, with revenues of Rs. 8,215 crore. With a focus on Emerging Businesses such as Brands, E-commerce, Flooring, and Advanced Textiles, the company achieved remarkable growth, notably in the Advanced Textiles business, witnessing a robust 43% YoY growth.
Welspun’s commitment to Environmental, Social, and Governance (ESG) factors is ingrained in its DNA. The company has achieved 29% renewable energy adoption, set up a 30 MW solar plant, and engaged in sustainable cotton farming initiatives impacting over 16,500 farmers. Welspun is recognized as a low-risk company on ESG factors and its sustainability journey is acknowledged as a case study on the Ivey publishing website.
With power brands like ‘Welspun’ and ‘Spaces,’ the company aims to strengthen its distribution network, expanding from 500+ towns and 11,170+ retail units to 50,000+ retail units by FY26. Welspun is poised for continued success in the evolving landscape of the home textile industry as it strives to capture a larger market share.
