Apparel Online India Magazine October 1st Issue 2018 | Page 26

H2F
HOME FURNISHING GIANTS
ARE POSITIVE; EXPECTING
BETTER BUSINESS
Indian home furnishing industry stalwarts are talking about positivity and increased business opportunities because of many
expansions in both global and Indian retail scenario. Among the commonly mentioned developments are growing retail sales in
the US, strong German economy and good growth in domestic market, all of which are adding to the positivity. Most of the market
leaders are going in for capacity expansions and making investments on marketing front… However, a note of caution remains
as even though the total income has increased, many public limited companies have registered a decrease in profit which clearly
shows pressure on margins. Yet, things have moved during Q1 FY ’19, and most of the companies have shown overall growth in
their performance. Apparel Online takes a closer look.
Himatsingka Seide:
Growth through global
acquisitions
Himatsingka Seide (part of the
Himatsingka Group) had total income
of Rs. 601.38 crore in Q1 FY ’19 which
is 16 per cent more than the Rs.
515.16 crore in Q1 of FY ’18. But the
consolidated profit for Q1 FY ’19 was
down by 12 per cent to Rs. 44.57 crore
compared to Rs. 50.63 crore in Q1 of
FY ’18. During the quarter ended 30
June 2018, the company through its
wholly-owned step down subsidiary
Himatsingka America Inc., US,
has acquired the home portfolio
of Global Brands Group Holding
Limited. The acquired portfolio
includes exclusive license rights
“After facing multiple
challenges over the last
18 months, we are slowly
witnessing an uptick in
demand. With a positive
outlook on global growth
and India advantage, we
remain optimistic. We
continue to work towards
strengthening our position
in key markets globally,
backed by innovative
designs and products,
focused customer-centric
approach and a portfolio
of aspirational and
functional brands.”
– Anil Kumar Jain,
Executive Chairman,
Indo Count Industries
for Tommy Hilfiger Home brand,
the Copper Fit brand, and
other brands.
The company is geared up for
further business and has a positive
outlook as the integration of
the recent acquisition of brand
licenses is progressing well. It is
expected to complete integration
by Q4 FY ’19. The construction of
the Greenfield Terry Towel facility
is progressing as per schedule
and the plant is expected to come
on stream during H1 of FY ’20.
Similarly, it also claims that the
ramp-up at the new spinning facility,
which commenced commercial
production during Q4 FY ’18, is
progressing satisfactorily. “Ramp up
26 Apparel Online India |OCTOBER 1-15, 2018 | www.apparelresources.com
at the spinning facility is progressing
as per expectation and we should
exit Q2 FY ’19 with the optimal level
output from the facility,” says the
company.
Trident Group: Bed linen,
a growth area
Trident Group’s textile segment
(Yarn, Bath & Bed Linen) revenue
stood at Rs. 916 crore in Q1 of FY ’19
compared to Rs. 967 crore in the last
fiscal year registering a de-growth
of 5 per cent. But its bed linen sales
grew by 14 per cent quarter-on-
quarter (QoQ) base. The company
board has approved to implement
Co-gen Steam (2 x 150 TPH) and
Power Plant (2 x 30 MW) facility in