Dixcy Textiles looking at turnover of over Rs 300 cr

Dixcy the well known innerwear brand from Dixcy Textiles, an integrated production house, is now on to new ventures, with it Higgins outwear brand. Higgins is a summer wear brand with a huge product portfolio comprising of polos,

round neck T-shirts, track pants and loungers. Now, Dixcy Textiles has launched Higgins winter collection this year. The brand is aimed at the upper middle class from age three upwards. The brand has already clocked in a turnover of Rs 50 crores since its inception four years ago.

“People have been complaining that winters are shrinking but this year I expect a very good winter. Due to the high yarn prices many small manufacturers have not made enough goods. Last winter, wasn’t so good. We have managed 40 per cent growth compared to last year. Last year, we grew 15 to 20 per cent,” says Rahul Sikka, Director, Dixcy Textiles. For Dixcy Textiles as a whole, the share of business is divided into 35 per cent for the first quarter, 25 per cent second quarter, and 20 per cent each in the third and fourth quarter. The company expects to cross Rs 300 crores turnover this year. “Our biggest competitor is Neva, who is the pioneer in quilts. We are the second largest quilt manufacturer. We have done business worth Rs 13 crores this year for quilts alone. For next year, we plan a 100 per cent growth in quilts,” he adds.

For this high-sales winter season, Dixcy Textiles will be stressing on its thermal range which is available in colors such as dark mélange, grey mélange and white.  The company uses a heat trap fabric that traps heat and keeps out the cold in a sandwich technology where cotton-polyester keeps the cold out and acts as an insulator. The company sells its products through 50,000 to 60,000 retail points. Although currently it does not have any EBOs, it will be retailing nationally through MBOs and large formats within a couple of months. In a few years time it plans to open its own EBOs in Tier II cities. What’s more in the next financial year it plans to have an IPO, the papers have been submitted to SEBI and being processed.

The company claims it already has a 6 per cent market share, which will be scaled up in a couple of years with a rapidly evolving India, which signifies prosperous times ahead. Meanwhile the Dixcy is already doing well in the Gulf and about 3 to 4 per cent of their turnover comes from exports. They supply to stores like Carrafour and Lulu under their brand name. And with Salman Khan as their brand ambassador, the brand is bracing itself for big times.