INDIA: Innovative Bedsheets, Home Furnishings from Shri Lakshmi Cotsyn

Innovative bedsheets, home furnishings from Shri Lakshmi Cotsyn

Launches India’s first eco-friendly textile brand WEAVES

 

Mumbai, September 24, 2008: Shri Lakshmi Cotsyn Ltd. has launched India’s first eco-friendly textile brand in India, “WEAVES” to offer a wide range of innovative home furnishing products and bedsheets for health conscious families.

The WEAVES range includes innovative products such as “Vitamin E (skin care) bedsheets, Water Repellent bedsheets, Mosquito-Bacteria Repellent and stain free bedsheets. The WEAVES range will also include other Home Furnishing Products such as towels along with pillows, cushions & comforters. Additionally, bath accessories, shower curtains, table mats, table covers and all ranges of Kitchen Accessories will also be available in all its stores.

Vitamin-E bed sheet is an innovative offering that transfers Vitamin-E from the textile material into the skin. The chemical & pollution free bed sheets/towels are treated with vegetable dyes & colours making it most suitable for human skin.  Water repellent bed sheet is ideal for new mother. The cloth doesn’t absorb the water as it lay on the surface itself. Hence, it’s very easy and hassle free for new mothers/users to clean the bed sheets.

Dr. M. P Agarwal, CMD, Shri Lakshmi Cotsyn Limited, said, “World over, consumers are increasingly becoming environment and health conscious. Shri Lakshmi Cotsyn has pioneered the introduction of Eco-Friendly textile brand, WEAVES. It will deliver value for money to discerning customers while fighting the cause global warming.”

 Shri Lakshmi Cotsyn Limited is in the process of introducing the Water Repellent bedsheets to hospitals across India. “There is a huge market worth over Rs 100 crore waiting for our eco-friendly products. We are getting an overwhelming response from our distributors in India and clients in US & Europe. We have already bagged orders for about 80,000 bed sheets on the day of its launch from our distributors,” Dr. Agarwal added.

 Shri Lakshmi is in the process of opening 500 new franchise stores across India through its pan India distributor’s channel. Weaves will be available at 1,500 outlets in the next three months of its launch. The WEAVES bedsheet has prices ranging from Rs. 299 to 3,499, while those of the towels range from Rs. 99 to Rs.999.

Demand for organic cotton is accelerating with brands and retailers continuing to implement long term commitments to increase the use of organic cotton. Estimated global retail sales are projected to grow to $2.6 billion by the end of 2008, reflecting a 116% average annual growth rate. With this the demand for organic cotton fiber is expected to grow to 100,000 metric tons in 2008 from 40,000 metric tons in 2006, an average annual growth rate of 75%. India is today the largest producer of organic cotton in the world with a production of 15,000 tons but still has a huge opportunity to grow.

About Shri Lakshmi Cotsyn Limited  

Shri Lakshmi Cotsyn Limited (incorporated in 1998 as Galaxy Indo- Fab Ltd) is a BSE/NSE listed company with over Rs 1000 core annual turnover. The diversified group is engaged in manufacturing and processing a very wide range of end-to - end textile products and safety textile for defence and paramilitary forces. The Company’s wide range of products  include cotton & blended fabrics, fusible interlining, quilting, embroidery and safety textiles such as bullet-proof jackets and bullet-proof helmets, camaflouge fabrics, uniform fabric, IR fabric and carbon fabric for defence establishments. SLCL is successfully diversifying its portfolio to de-risk its business model. It is increasing its focus on retailing and high margin technical textile business. The Company has entered into the branded retail segment with terry towels, home furnishing, high-end organic textile and denim trousers and plans to open 1500 retail outlets.  It is also foraying into manufacturing of High-End 360 degree Armoured Protection Vehicles, First of its Kind in India with mine and bomb -proof accessories. SLCL’s product range is spread across several product brands such as “STAR TRACK” “SVL” “ALISHA” “GALAXY” and now “WEAVES” India’s first eco-friendly textile brand  for health conscious families. The annual turnover of the company for FY 2007-08 is Rs 938.60 crore, while it’s Profit after Tax stood at Rs 67.42 crore.

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