Activewear major’s Tirupur plant set to double its revenue this fiscal

This group’s revenue comes through three channels. The listed company of the group is Lux Industries, which has a turnover of Rs 972 cr. The brands for this firm are Lux Cozi and Onn. A sister company called JM Hosiery owns the brand GenX. There is also a third company called Ebell, which owns the lingerie and leggings brand Lyra (worth Rs 170 cr), which aims to tap the Rs 7,000 cr lingerie market. The group has 12 manufacturing facilities spread across India (including two in Tamil Nadu for GenX). The group aims to become a Rs 5,000 cr worth conglomerate in the next five years.

Navin Todi, Senior VP, Lux Industries, tells us, “GenX, originating from TN, is positioned as one of the largest brands in the activewear segment, valued at about Rs 2,400 cr. The factory there had been set up more than 30 years ago, with an aim to offer affordable, quality leisurewear to the youth. The sector was quite unorganised and there were no mid-segment brands when we entered the market for casualwear – tee shirts, track pants and so on. As of now, GenX has crossed the turnover of Rs 100 cr. Its new range will be released next quarter in the premium segment, but within an affordable  bracket. The brand is gunning for a Rs 250 cr turnover within the next three years, which translates into a 35 to 40 per cent growth per annum.” '

With respect to the market, Cozi has a 22 per cent share in the economy to the mid-segment range. GenX in the mid-segment alone has an 18 per cent market share. Getting into the premium category, the company aims to garner a 4 to 5 per cent market share. The current capacity of the Tirupur plants is about 2 lakh pieces a day. An investment of Rs 10 crore has been planned for the next two years for GenX to improve technology in the premium segment. Navin adds, “The South Indian market would also get additional investments in marketing over the next two years to the extent of Rs 18 cr. E-com will be a strong area of focus in the future and we foresee that it will contribute 10 to 12 per cent of the sales for the brand in two years from now.” 

The official mentioned that their new factory has been commissioned in Dankuni, West Bengal, at an investment of Rs 100 cr.