Lux to invest Rs 1 bn on expansion

Lux Industries, a major player in Indian innerwear market is planning to infuse Rs one

billion for expansion. Eyeing the growth potential in premium innerwear and undergarments segment, the company wants to utilise the funds for machineries, marketing and to introduce new products.

“We plan to have additional investment of Rs 100 crores on plant, machineries and marketing and launch new products. The Indian market has tremendous potential in the premium undergarment and innerwear market. In men's premium segment, we expect to have 25 percent market share by 2016-2017,” Lux Industries Chief Operating Officer Dilip Newar said in a statement.

Intending to cater to the urban and semi-urban youth, the firm’s premium innerwear brand ONN would unveil its latest collection this season, with Shah Rukh Khan endorsing it. Manufacturing over 100 products, the firm operates more than 500,000 outlets in India and looks forward lap up one-fourth share in Indian market by 2016-17. Meanwhile, it has also begun to explore overseas markets and has offices in Europe, Africa and the Middle East.