The Welspun Group is set to make a substantial investment of Rs. 6000 crores in the State of Odisha, spanning across various ventures and holding the potential to create over 20,000 job opportunities.
Reliable sources in the media have confirmed that the Odisha Government has granted approval for this proposal. Notably, a significant portion of this investment, amounting to Rs. 3000 crores, will be dedicated to the textile segment. An official announcement from Welspun is anticipated soon.
Welspun India, a prominent global player in the home textile industry with a distribution network spanning over 50 countries, is making waves with its transformative journey. Welspun’s evolution, marked by a commitment to excellence and continuous improvement, positions the company as a trusted brand and a market leader.
Welspun presently boasts of an annual manufacturing capacity of 90, 000 MT of Bath Linen, 108 million meters of Bed Linen, and 12 million square meters of Rugs and Carpets. In the Advanced Textiles Business, the company has achieved a capacity of 27,729 MT of Spunlace, 100 million packs of Wet Wipes, and 3,026 MT of Needlepunch.
Integrated Manufacturing
The world’s largest vertically integrated facility for home textiles, situated in Vapi and Anjar, Gujarat, along with a flooring facility in Telangana, reflects Welspun’s dedication to sustainability.
The manufacturing facilities consistently exhibit outstanding performance in environmental indices, emphasizing high levels of water and energy efficiency. Continuous innovation, smarter product development, and sustainable processes remain at the core of Welspun’s manufacturing philosophy.
Global Home Textiles Industry
The global home textiles industry, valued at $119.09 billion in 2022, is projected to grow at a CAGR of 5.7%, reaching $174.14 billion by 2028. Welspun, with a market share exceeding 45% in 2021, dominates the Asia- Pacific region, poised for robust growth driven by real estate investment and a rising demand for affordable housing.
In the bed linen market, projected to exceed $35.81 billion by 2028, changing consumer preferences and lifestyle trends contribute to market growth. The global bath linen market, expected to reach $18.57 billion by 2028, anticipates substantial growth, especially in bath towels, driven by online sales channels and personalized offerings.
In India, home textiles play a vital role in home decor, and Welspun stands as a key player. The Indian home textile industry, second only to cotton yarn, boasts a dominant position in bed sheets and terry towels, with significant contributions to the global market.
Welspun India Limited, a part of the Welspun Group, has reported strong performance in FY23, recording revenues of Rs. 8,215 crore. With a focus on Emerging Businesses such as Brands, E-commerce, Flooring, and Advanced Textiles, the company achieved remarkable growth, notably in the Advanced Textiles business, witnessing a robust 43% YoY growth.
ESG
Welspun’s commitment to ESG is ingrained in its DNA, reflecting in ambitious goals and strategies. The company achieved 29% renewable energy adoption in FY23, set up a 30 MW solar plant, and engaged in sustainable cotton farming initiatives impacting over 16,500 farmers. Recognized as a low-risk company on ESG factors, Welspun’s sustainability journey is acknowledged as a case study on the Ivey publishing website.
Future Vision
As market leaders with power brands ‘Welspun’ and ‘Spaces’ the company aims to strengthen its distribution network, currently present in 500+ towns and 11,170+ retail units, by expanding to 50,000+ retail units by FY26. With a commitment to capturing a larger market share, Welspun is poised for continued success in the evolving landscape of the home textile industry.
—
The Path to Sustainability: Welspun Living’s Circular Transformation
As a part of its commitment to upholding ESG initiatives, Welspun Living has swiftly undertaken a massive transformation towards circular manufacturing procedures. Within the paradigm of ESG Excellence at Welspun Living, circular economy models are preferred, where the flow of resources functions in a continual loop, whereby materials are allotted for usage throughout their whole lifespan, thereby maximising their overall value. At the conclusion of the lifecycle, they are recovered and regenerated thereafter into newer products and materials as a part of ESG integration strategies, thereby building a closed resource management loop in turn.
Enhancing ESG Performance through Circular Manufacturing
Welspun Living’s ESG initiatives span several path-breaking innovations in the world of sustainable textiles. It is one of the biggest home textile and bedsheets brands in India today and has taken concrete measures to address challenges pertaining to inefficiencies and waste. Shifting away from a linear economy model, it has built a more resilient and sustainable resource management model in line with the goal of becoming carbon neutral.
Circular systems have been carefully integrated into the operational process as a part of ESG Excellence at Welspun Living. The manufacturing units at Vapi and Anjar have already adopted major energy conservation steps for mitigating climate change effects. The brand also has the coveted OEKOTEX® Standard 100 certification, which is a testament to its commitment towards ensuring the production of more sustainable textiles.
Advantages of Circular Manufacturing and Processes
Circular economy-based models have been a major part of ESG initiatives taken by Welspun Living. Some of the benefits include the following:
- Production of renewable and safer textiles that have a longer lifespan.
- Incorporation of natural materials into the production process for higher sustainability and recyclability.
- More sustainable resource usage along with lower environmental impact and pollution. There is also a reduction in greenhouse gas emissions along with enhanced preservation of resources.
- There is more creativity and innovation which opens new growth and development possibilities, keeping sustainability, reuse, innovation, and recycling at the forefront.
Towards achieving ESG Excellence at Welspun Living, the brand has implemented a circular approach towards tackling the water crisis globally. It has set up wastewater treatment plants for recycling of wastewater and reduction of fresh water consumption. It has sorted and labelled waste to prioritise and identify materials that can be repurposed, recycled, or reused.
The SPUN initiative ensures a more positive impact through the diversion of factory waste each month from landfills. It also offers a platform for women to showcase their artistic capabilities and talents. It has tripled income for women and also changed their lifestyles. From waste disposal and production to raw material procurement and supply chains, the brand has integrated circularity and sustainability into its whole value chain. Circular manufacturing and other models for sustainable textiles have been adopted by Welspun Living rapidly with a view toward achieving sustainable development and 100% renewable energy by 2030. This goal is the benchmark that is driving several game- changing ESG initiatives at Welspun Living today.
