- Meenakshi Kumar |
Lux Industries is targeting a turnover of Rs 2,200 crores by 2020. The company manufactures garments worth Rs 20 crores a year. It has established its presence across the manufacturing value chain (yarn outsourcing to in-house knitting, processing and stitching operations), strengthening its cost leadership. Lux currently has nearly 350 circular knitting machines and fully automated in-house stitching units. The extensive distribution relationships helped grow sales.
The company’s Dankuni factory in West Bengal is equipped to manufacture five lakh pieces of knitted products a day, the largest in India’s innerwear textile sector. The plant is a new state-of-the-art spread over 12 lakh sq. ft. It is extensively integrated from knitting to cutting, making it possible to deliver products with speed, coupled with enhanced value addition.
In 2017-18, Lux announced its proposal to merge two group constituents, JM Hosiery and Ebell Fashions with itself. JM Hosiery owns the men’s brand GenX and Ebell Fashions owns the women’s brand Lyra. Their merger with Lux will be complementary and profitable. India’s innerwear market was Rs 24,000 crores in 2015 is projected to grow to Rs 47,000 crores by 2020.