Kerala-based Kitex Garments, the third-largest infant garment brand in the world at present, is planning to grab the top spot by 2025, by which time its turnover would be around Rs 2,000 crore, as against Rs 650 crore at present.
To achieve this target, the company plans to invest around Rs 900 crore and venture into the manufacturing and sale of new products in the infant apparel category, which includes products like socks for children, baby diapers and baby wet wipes.
At the operational level, 'Vision 2025' translates into technological and operational expansion, with organic diversification of the product portfolio. As a first step, the company is planning to add production capacity across the value chain, which includes expansion of the knitting capacity and the processing capacity to 100 tonnes each, according to the company's annual report.
At present, the number one and two brands are from China and Singapore, respectively.
The company is also planning to strengthen the vertical integration of its manufacturing value chain with the setting up of a cotton spinning mill for yarn production with a capacity of 100 tonnes per day.
Plans are also afoot to set up a manufacturing facility for ancillary materials such as trims & packages, which include cartons, tapes, paper tags, labels, hangers, and woven tags, etc.
Established in 1992, Kitex Garments Ltd is involved in 100 per cent export of cotton and organic cotton garments, especially infant wear. The company exports its products to the US and European markets and is one of the major suppliers to brands such as Mothercare, Jockey, J C Penney, Wal-mart, Sarah Lee, Gerber and others.
The vertically integrated manufacturing plant in Kerala makes infant wear as well as fabrics.
At present, the company can manufacture 432,000 infant wear articles every day and its total textile capacity is around 50 tonnes.