Kalantry Textiles is investing in a finishing plant in Gujarat to allow it to diversify into garment finishing and then apparel manufacturing.
The 70 year old business has been operating as a job worker but, due to Gujarat’s current apparel market success, Ashwin Kalantry, Director of Kalantry Textiles, has decided that expansion is the way to go. The business has now started to buy old textile mills and sell off the outdated textile machinery for spinning, weaving, and processing.
Due to a minimal first investment, Kalantry stated that the company’s expansion is cost effective and this is one of the reasons he decided to go forward with it. Moreover, by starting with garment finishing, the ground will be set for Kalantry Textiles to move into apparel production. Kalantry said, “Strong finishing setup will help us in our own clothing line. We are investing nearly Rs. five crores and it will take around six months for us to establish the entire unit.” The investment is equivalent to 0.8 million dollars.
Kalantry Textile Industries is part of the Kalantry Group which also includes consulting and infrastructure businesses. Kalantry Textiles is currently taking in around 25 crore rupees (around four million dollars) a year and the hope is that this expansion will serve to increase revenue.
Reference: https://in.fashionnetwork.com/news/Kalantry-textile-industries-expands-into-garment-finishing-and-apparel-line,857443.html
