“We are future ready for Denim Leadership. Having built manufacturing excellence in premium spinning yarn and overall operational efficiencies in the past few years, we are committed to embracing Fast Fashion!”
In a fast-paced business, with ever-changing fashion trends, our business model is centered on the concept of ‘Fast Fashion for the Denim Economy’. With the economic rise of China and India, the young and affluent population of these nations is finding denim wear increasingly appealing. The mid-value segment is driving high growth - due to increased demand for high end product attributes with specialized fabrics and designer styling & detailing for a higher fashion quotient.
At Suryalakshmi Cotton, we are future ready to cater to the needs of this ‘Denim Economy’. Denim manufacturing and consumption in India has grown at a CAGR of 12-15% over the last decade and is expected to grow at similar levels over the next few years. Currently, the per capita consumption of denims in India is 0.3 denims per person as compared to 1 pair in China and 8 pairs in USA. Going forward, domestic demand will be driven by the growth in India’s young population, rising incomes and organized retailing.
We have readied ourselves to ride the Denim Economy in the coming decade!
“We are focused on realizing Denim Leadership through manufacturing excellence and operational efficiencies.”
On the global front, the market for denims is forecast to reach USD 64.1 billion by 2020. We are already stimulating under-penetrated Asian markets and deepening our relationships with existing customers in Europe and US. Global export drivers such as the shift of production to India owing to cost, quality and resource advantages will open up further business opportunities for Suryalakshmi Cotton.
Our journey of over 2 decades has seen accelerated performance in the past few years and we are now ready to embrace growth with profitability. With a manufacturing model that is fully integrated with fibre production – yarn manufacturing – fabric manufacturing – garment manufacturing, we are ensuring optimum operational costs thereby improving our overall profitability. Going forward, this will be our key strategic strength.
Further, our captive power plant setup in Ramtek, Maharashtra caters to the power requirements of our denim manufacturing process. With assured raw material linkages, this is an integral part of the backward integration process aimed at reducing operating costs.
With a young and strong leadership team, we endeavor to leverage talent, innovation and speed-to-market to realize our global aspirations and harness the opportunity of a young and growing India. Speed and design innovation will be the essence of our journey going forward. Market dominance, profit leadership and customer loyalty will be the three pillars on which Suryalakshmi will weave its growthstory.
L. N. Agarwal