Himatsingka Himeya Brand Aims to Set Up 10,000 Outlets Across India

Akanksha Himatsingka, CEO, Home Textile Solutions said that Himatsingka the recently launched brand of global textile manufacturer Himatsingka, aims to establish a presence in 10,000 stores in India. The first target, he said, is to reach 1,000 stores by the first quarter of next year.

The brand initially focused on the high-end/premium segment when it was launched in 2019, now it has shifted its focus towards accessibility. The product range has been expanded to cover various price points, starting from Rs 299 for bath towels to Rs 1399 for sheet sets. Himatsingka emphasized that these are aggressive price points, and over the years the brand has become extremely diverse in its offerings, catering to different preferences and aesthetics.

Himatsingka mentioned that the brand has already established a presence in 70-80 Multi-Brand Outlets, mainly in large-format stores and online. The brand aims to generate Rs 1,000 crore in the next 5 years with a special focus on growing market presence in India.

In terms of financial performance, the company has registered a significant improvement in its second quarter results. Total income increased by 17% year-on-year to 748.15 crore as compared to 639.68 crore in Q2 FY23. Profit after tax for Q2FY24 was 28.78 crore, a positive turnaround from a loss of 33.89 crore in the same quarter last year. This improvement is attributed to increased capacity utilization levels, lower raw material costs and lower energy costs.

The company does not expect massive fluctuations due to its diverse spread. And working with large Fortune 500 customers has contributed to consistent demand. She remains cautiously optimistic about the future.

The company believes in the importance of diversifying into different markets, which will help it enter the Indian market, which is seen as significant prospects.

As an integrated textile conglomerate with a global footprint spanning North America, Europe and Asia, the company designs, develops, manufactures and distributes various textile products.

As regards manufacturing capacity, there is no immediate plan to increase capacity. The company currently operates a 400-acre campus in Karnataka, focusing on the production of bedding, baths, curtains, upholstery and yarn products.

About Himatsingka:

Himatsingka is an integrated global textile company, designing, developing, manufacturing, distributing and retailing a group of textile products. Our installed capabilities of manufacturing bed and bath products, curtains and upholstery fabrics, and fine cotton yarn are among the largest in the world. While the global scale and next-generation digital shop floors support our impressive portfolio of owned and licensed brands, it is our committed workforce of over 10,000 people that underpins the Himatsingka Way.