On the back of product innovation, organic and inorganic growth, Welspun is aiming 25% share in revenue to come from its domestic home textiles business by 2020 as against the current 5%.
According to Subrata Pal, Head - Domestic Business, Welspun Global Brands Limited, the company is banking on organic and inorganic growth coupled with new product categories to push contribution of domestic business to its total revenue.
Talking about plans to grow the company's domestic business, Pal also hinted at the possibility of bringing its UK-based brands Christy and Kingsley to India in near future, apart from acquiring other brands and distribution partners.
To further boost domestic retail sales, especially in the premium category, Welspun recently launched an innovative range of bedsheets and towels based on the hygro-cotton technology. To be retailed through the company's premium retail network 'Spaces Home & Beyond', the products have innovative utility features. For instance, while the bedsheets regulate temperature in the range of three degree Celsius, the towels enhance absorption and softness with each wash.
"The patented hygro cotton technology results in a special kind of yarn which helps us produce towels that grow more fluffy and soft with each wash and turn more absorbent. On the other hand, the bedsheets control temperature in the range of three degree plus or minus, wherein it cools inside when the external temperature is hot and keeps warm when the external temperature is cold," said Pal.
As a premium brand, towels and bedsheets at Spaces Home & Beyond outlets are priced in the range of Rs 700-1700 and Rs 1500-6000, respectively. Combined with its value brand WellHome, Welspun has around 225-odd shop-in-shop outlets and 1500 multi-branded outlets (MBOs). Despite equal number of outlets, about 80% of its domestic retail revenue comes from the premium Spaces brand while 20% comes from WellHome.
Internationally, the company is marking its presence through sporting events like Wimbledon and ICC cricket by way of supply of terry towels. Welspun Global Brands also recently became a licensed towel supplier for football club Manchester United and Disney, Pal told mediapersons.
Going forward, the company will launch limited-edition towels in the licensed category in next few months.