Himatsingka had announced investment of Rs. 1,300 crores in order to augment its manufacturing capacities and capabilities. The investment will aid in doubling the group’s sheeting capacity from 23 MMPA to 46 MMPA; backward integrate into ultra-fine count cotton spinning by setting up the world’s largest spinning plant under one roof with a capacity of 211,584 spindles and foray into manufacturing terry towels with a capacity of 25,000 TPA as it is synergistic and strategic to the group’s current offerings.
These investments will be made in a phased manner beginning FY’16 through FY’18 and will help augment our manufacturing portfolio over the next 3 years.
The Himatsingka Group is a vertically integrated home textile group that manufactures, retails and distributes bedding, bath, drapery, upholstery and lifestyle accessory products. The group operates two manufacturing facilities in India and retail and distribution businesses across North America, Europe and Asia.
Contiguous to the new initiatives in manufacturing, Himatsingka intends to pursue initiatives to drive growth in its distribution verticals as well. Today, with over 10 brands, the Group has amongst the largest portfolio of Home Textile brands with an annual throughput of over Rs. 800 crores. Creating brands and solutions that are differentiated by technology also continues to bea key area of focus.
Himatsingka clocked revenues of Rs. 1,886.84 crores for FY’16.
Mr. Shrikant Himatsingka, Managing Director & CEO, Himatsingka Seide Ltd., says: “We are indeed pleased to be the first mover to bring to market a DNA verified cotton value chain solution under the Pimacott Brand. This initiative will drive significant value for our clients and consumers alike in the backdrop of ever changing consumer preferences, demands of the millennial consumer and the advent of omni-channel retailing”.
“Looking forward, we expect our investments to add to our manufacturing portfolio and garner for us a top 3 position across our businesses globally. Our focus on delivering sustainable value, combined with our corporate ideals of good governance and transparency will give us the essential ingredients to build a strong and globally competitive enterprise”, adds Mr. Himatsingka.
Himatsingka has focused on enhancing performance across our manufacturing and distribution businesses. “On the manufacturing front, we have significantly enhanced performance parameters by bringing in a new paradigm on efficiencies, productivity and technology. On the global distribution front, we have been expanding our brand portfolio and thereby bringing more relevant and differentiated solutions to the global shelf. Our integrated approach, where the power of largescale manufacturing complimented with a strong brand portfolio has helped us disseminate capacities with an optimal product profile and has paved the path to creating sustainable value”, concludes Mr. Himatsingka.