Homegrown innerwear major Lux Industries is planning to set up a new hosiery manufacturing unit in West Bengal, besides looking to add to its tally of retailers.
“We are proposing to set up a world-class integrated hosiery manufacturing unit near Serampur in West Bengal, on land aggregating more than 5 lakh sq feet factory and godown space,” Lux Industries Managing Director Pradip K Todi said. “The company also plans to add approximately 50,000 additional retailers in another five years, which is expected to drive growth of our premium brands across domestic and international frontiers,” Todi added.
More facilities at new unit
According to Todi, “The facilities at the new unit would include knitting and cutting, producing innerwear garments, end-to-end production facilities, warehousing facilities, quality control, and all logistics support, with a mix of imported and indigenous knitting machines and machines.”
“The main products planned in this unit shall be vests, briefs and cottswool with product mix, depending upon the overall market plan of the company in future. The garments will be marketed and distributed under the existing LUX brand, and thus strengthen overall volumes of the company,” Todi added. Meanwhile, Lux Industries made its debut on the Bombay Stock Exchange through a listing on January 5. The listing of the company on the exchange is expected to enhance the visibility for the company’s equity shares, and also provide liquidity for existing and prospective investors.
