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India : Major textile exporters to launch own brands in foreign countries |
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2005-7-18
Indian textile exporters are likely to play role of value chain players by jumping into the high-valued branded garments and home textile markets in the United States and the European countries.
Leading terry towel maker Welspun Industries Ltd has begin functioning the producing, marketing and distribution units of a range of towels in the US and Canada.
Leading textile player, Arvind Mills has been so far supplying to major retailers such as Wal-Mart, JC Penny, and Marks & Spencer, is now planning to launch its own brand of garments in the US.
According to industry veterans, many Indian textile majors intend to follow Chinese exporters, who are crazily buying up US textile and apparel brands.
Several Indian exporters have expressed their interest to buy out set ups of apparel and home textile brands, who are currently counted in the list of bankrupt US textile retailers like Pillowtex, West Point Stevens and Dan River.
Meanwhile, the Government has been trying to enhance the exports of the branded garments and the textile Ministry is expected to roll out a policy to raise India''s market share through building brands.
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