JOIN USWorld Textile Group to explore Indian biz
Changzhou-based World Textile Group, manufacturers of synthetic fabrics like polyesters, nylons, and blends of polyesters, nylons, and cotton, mainly for outer wear and active wear, is exploring the Indian market with the aim of setting up a warehouse, a top executive said.
Talking to Deccan Herald on the sidelines of Fabric & Accessories trade show here on Thursday, World Textile Group General Manager Mondy Qin said, “In a bid to explore the Indian market, we are planning to set up a bonded warehouse to cater to the growing needs of the retail market in India.”
After China, India is the fastest growing market in terms of export and retail. With labour cost in China going higher, many customers worldwide are looking at Indian sources.
We have already set up an office in Bengaluru eight months ago, and we are trying to increase our customer base which includes Gokaldas Exports, Texport Overseas, Arvind Garments, among others.
“We are here to provide the best of service and quality to our customers and in the long run we will set up a warehouse. The fluctuations in the yen against the US dollar is affecting the export business. So for the long term we are planning to set up a manufacturing unit in India,” he said.
The company has 450 machines which can produce up to three lakh metres of fabric per day. It employs around 300 people. Simultaneously, the company is into garment manufacturing, mainly board shorts (used for surfing), walk shorts, shirts and outer wear. These products are exported to the US and European markets.
Own brand
World Textile Group saw a turnover of $35 million in 2014. It is looking at a growth 30-35 per cent for next year. “We also have our own brand Dunkelvolk, which we started in 2012. We have 15 stores in East China, besides presence in five eCommerce portals like Alibaba.”
“With our strong supply base in fabrics and garments, besides owning a brand, the next step is to move to the Indian market. We are exploring the Indian market not only for our sales, but also in terms of buying garments for our brands,” Mondy Qin said.
According to UN Comtrade data, during January-October 2014, India’s garment exports rose 14.6 per cent to $14 billion. In contrast, export volumes from China were 6.5 per cent higher at $145 billion, which in value terms was 10 times higher.