Grow­ing Span­dex Mar­ket “C

in In­dia Prompts Hyosung to Open Fac­tory in In­dia

Perfect Sourcing - - Market Update -

The Korean con­glom­er­ate Hyosung, hav­ing one of its arms well stretched over the tex­tile in­dus­try, is in the ini­tial stages of set­ting up a Span­dex yarn man­u­fac­tur­ing fac­tory in In­dia. Since its es­tab­lish­ment in 1992, Hyosung’s Span­dex brand Cre­ora, which is com­mit­ted to ex­cel­lence in qual­ity, ser­vice and value, is con­stantly de­vel­op­ing new prod­ucts to meet the needs of the cus­tomers through con­tin­u­ous R&D to open new vis­tas in the tex­tile in­dus­try. re­ora pro­vides ex­cel­lence in terms of uni­for­mity and pro­duc­tiv­ity to the cus­tomers and also, it has dis­tin­guished its brand through ex­e­cut­ing dif­fer­en­ti­ated global mar­ket­ing ac­tiv­i­ties by in­tro­duc­ing its cus­tomers’ fab­ric to fa­mous brands at cre­ora® Fab­ric Li­brary, lo­cated in ci­ties such as Seoul, New York, Mi­lan, Hong Kong and Shang­hai,” said J.G. Lim, Direc­tor, hyosung Cor­po­ra­tion in­dia pvt. Ltd.

Hyosung of­fi­cials have listed the In­dian Span­dex mar­ket in their top 5 and have men­tioned its ever-grow­ing na­ture. Hyosung has wit­nessed a good mar­ket growth of about 8% per month in the In­dian mar­ket, which has led to more than 50% growth a year. “In­dia is a very pro­gres­sive mar­ket and has trig­gered a hike from 1300 tonnes/ month to 1800 tonnes/month in pro­duc­tion,” said Lim. The de­mand of the mar­ket has pushed to com­pany to start a new fac­tory in In­dia.

Cre­ora’s mar­ket share is about 50% of the mar­ket in In­dia. “We ex­pect to in­crease the share as we pro­vide su­pe­rior tech­ni­cal sup­port and best qual­ity prod­ucts. We an­tic­i­pate the Span­dex mar­ket in In­dia to grow con­tin­u­ously as the de­mand is driven by in­creas­ing con­sumer aware­ness about healthy life­style and de­mand for com­fort in var­i­ous kinds of ap­parel, in­clud­ing denim,’ he averred.

Lim also pointed out that the pri­mary mis­sion of the group is to sup­port the growth of the In­dian and South­east Asian tex­tile man­u­fac­tur­ers through new prod­ucts, ex­cep­tional ser­vice and trend pre­sen­ta­tions.

In In­dia, the com­pany is work­ing with man­u­fac­tur­ers en­gaged in pro­duc­tion of wo­ven, denim, knit­ted, nar­row fab­ric elas­tic, warp knit­ting tex­tiles and di­a­pers, in­clud­ing the likes of Vardhman, Ginza In­dus­tries, Prat­i­bha Syn­tex, Maral Over­seas and many oth­ers.

(Left to right) - J.g. Lim, direc­tor, Hyosung Cor­po­ra­tion in­dia pvt. Ltd., udai ku­mar agar­wal, direc­tor, an­nadih Vin­com pvt. Ltd., ajay gupta, Man­ager, Hyosung Cor­po­ra­tion in­dia pvt. Ltd.

J.g. Lim, direc­tor, Hyosung Cor­po­ra­tion in­dia pvt. Ltd.

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