Welspun to bring UK brand Christy to India

Daily News & Analysis reports that with its purchase of UK towel brand Christy in July 2006, Welspun will now be bringing it to the Indian market. According to Deepali Goenka, Director of Welspun India Ltd.,

“People are demanding products that deliver value in terms of their usage and not really the pricing. Adding colour to the market is the booming housing sector which is more about selling lifestyle than just a house. Brands are finally making inroads into people’s minds in the home textile market as well.”

Welspun currently retails its products at Welspun Homemart, a factory outlet format, and at Spaces which has exclusive stores as well as shop-in-shop locations. Now the company is considering opening one more level of stores after Spaces.

At present there are 8 Spaces stores and the company is keen to increase these to 60 as well as have 150 Welspun Homemarts by 2008. The company aims to become a Rs. 500 crore company by 2008.