Indo Count is hopeful of gaining larger market share in Europe and UK

Indo Count is hopeful of gaining larger market share in Europe and UK


Indo Count is an end-to-end bedding provider that is solely focused on creating all-encompassing sleep experiences. The company has created its presence in more than 49 markets with the objective of continuing to add more every year. Kailash R Lalpuria, Executive Director & CEO of Indo Count Industries, discusses the present state of the Indian home textile industry, recent trends, and his company’s strategies to leverage them in this interview with Divya Shetty.

How did the company perform financially and operationally throughout the calendar year 2023?

“The company has demonstrated sustained performance despite challenging global macro environment. With capacities in place, we have built a solid foundation and are confident of growing our market share.

We are also growing our domestic brand business as the Indian economy is in a sweet spot. Our commitment towards ESG and sustainable initiatives is driving innovation, value creation and providing us opportunities to scale up our customer services.”

Indo Count Industries had a strong performance in the calendar year 2023. Here are some key highlights:

The Company achieved highest ever total revenue of Rs 36.01 billion in FY 2023-24 compared to Rs 30.43 billion in FY 2022-23. EBIDTA increased to Rs 6.03 billion in FY 2023-24 as compared to Rs 4.86 billion in FY 2022-23. Same way the profit after tax of the company increased to Rs 3.38 billion from Rs 2.77 billion in previous financial year.

The company achieved a volume of 97 million metre for FY23-24 compared with 75 million metre in FY 22-23

The company completed its capex and became the largest global bed linen player with a capacity of 153 million metre.

The company’s domestic brand Layers was recognised as the Femina Power Brands of the Year 2022-23.

What are the prevailing trends in the Indian home textiles industry currently? How are these trends influencing consumer behaviour and market dynamics?

The India Home Textile Market size is estimated at $ 9.60 billion in 2024, and is expected to reach $ 15.36 billion by 2029, growing at a CAGR of 9.84 per cent during the forecast period (2024-2029).

  • Increasing focus on sustainable and eco-friendly products: With growing environmental awareness, there is a rising demand for sustainable and eco-friendly home textile products in India. Consumers are increasingly seeking products made from organic or recycled materials, as well as those manufactured using environmentally friendly processes. This trend has prompted many manufacturers to incorporate sustainability into their production practices and product offerings.
  • Rapid urbanisation and growing middle class: India’s expanding urban population and rising middle class are significant drivers of the home textile market. As more people move to cities and experience improved living standards, the demand for home textiles such as bedding, towels, curtains, and upholstery increases.
  • Increasing disposable income: The steady growth of disposable income among Indian consumers has fuelled spending on lifestyle products, including home textiles. With more purchasing power, consumers are willing to invest in higher quality and aesthetically pleasing home textile products, driving market growth.
  • Preference for branded and designer products: There is a noticeable shift in consumer preferences towards branded and designer home textile products. Recognisable brands offer assurance of quality and design, while designer collections cater to those seeking unique and stylish options. This trend has led to the proliferation of both domestic and international brands in the Indian market.
  • E-commerce boom: The proliferation of e-commerce platforms has transformed the home textile market landscape in India. Online retail offers convenience, a wide variety of choices, and competitive pricing, making it increasingly popular among Indian consumers. E-commerce platforms have also facilitated the entry of smaller and niche players into the market, intensifying competition and driving innovation.
  • Government initiatives and policies: Government initiatives such as “Make in India” “Atmanirbhar Bharat”, “Production Linked Incentives” (PLI) for various Manufacturing Sectors and supportive policies aimed at promoting textile manufacturing have provided impetus to the home textile industry. Incentives for domestic production, infrastructure development, and skill enhancement programs have encouraged investment in the sector, contributing to its growth.

Can you elaborate on the current state of the export market for your company? Are there any notable opportunities or challenges, such as logistical issues due to conflicts like wars or crisis like the Red Sea situation that are impacting your operations?

Indo Count is a ‘Recognised Five Star Export House’ and it exports its products to more than 50 countries. The company continue to increase its market share in current markets and exploring new exports market through innovative and sustainable product mix. Company is hopeful of gaining larger market share in Europe and UK once FTAs are signed off. FTAs will bring Indian companies on par with competitive countries like Pakistan, Bangladesh and Vietnam.

Recently, the company acquired the National US brand home fashions brand “WAMSUTTA” from Beyond, Inc. This acquisition strengthens Indo Count’s brand portfolio and elevates its position in the premium market segment. WAMSUTTA is an industry-leading home fashions brand that has delighted generations of consumers with luxurious bed, bath, and other home fashion products. With a brand legacy dating back to 1846, WAMSUTTA is renowned for its exceptional quality.

The company also boasts of large array of brand licenses. To strengthen it further, the company recently secured licencing agreement with Iconix Internation for “Fieldcrest “and “Waverly” brands. These two brands will further expand the B2C footprint to tap into diverse demographics. The opportunities include;

  • Sustainability Initiatives: The company has recently invested approximately Rs. 50 crores in a Solar Power Generation Project in Gujarat, which has a capacity of 9.3 MW units of electricity generation. This initiative aligns with our vision of reducing carbon footprint and embracing clean energy solutions.
  • Centre of excellence: Indo Count Industries has collaborated with the state government of Maharashtra and PDKV (Dr Panjabrao Deshmukh Krishi Vidhyapeeth, Akola) to set up a centre of excellence for Cotton at Ekarjuna in Chandrapur district of Maharashtra in 2021.

The challenges include;

  • Red Sea Crisis: The on-going crisis around the Red Sea shipping route, resulting from Houthi attacks on commercial vessels, and Israel – Hamas War may impact various industries in India. The Red Sea route via the Suez Canal accounts for 50 per cent of the country’s exports and 30 per cent of imports. This disruption is significantly impacting Indian trade, especially with the Middle East, Africa, and Europe.

These factors present both opportunities for growth and challenges that need to be navigated carefully. It’s important for us to continue monitoring these situations and adapt their strategies accordingly.

Given the increasing emphasis on sustainability, what specific measures is your company implementing to ensure environmentally responsible practices? Additionally, does your company engage in the production of disposable home textiles? 

Indo Count Industries is committed to sustainability and has implemented several measures to ensure environmentally responsible practices:

Indo Count has recently invested approximately Rs. 50 crores in a Solar Power Generation Project in Gujarat, which has a capacity of 9.3 MW of solar electricity generation. With this investment our Gujarat unit will be run using 90 per cent of its power requirements from green energy. This initiative aligns with our vision of reducing carbon footprint and embracing clean energy solutions.

Indo Count ensures that no harmful substances are discharged into the environment by using state-of-art Italian zero discharge ETP plant for the primary, secondary and tertiary treatment of effluents, producing clean drinking water. Also, we have rainwater harvesting for water conservation. Recently we have expanded our capacities of processed water treatment and reduced freshwater consumption from 50 per cent to 25 per cent.

Indo Count uses new technology and equipment for the manufacturing process to conserve energy.

  • Oxygen analysers provide increased fuel efficiency.
  • Blowdown TDS sensors and values maintain optimal levels and save fuel by reducing heat loss.
  • VFDs allow for greater mechanical life, less downtime and increased energy conservation.

At Indo Count, both air and noise pollution have been greatly reduced with new acoustic systems that have been placed on DG sets and air compressors.

Indo Count discloses sustainability initiatives, actions taken for its improvement, performance data on various sustainability initiatives, and targets taken across numerous sustainability pillars on a global platforms like CDP, S&P’s CSA, UNGC COP, HIGG Index (vFEM) etc.

Our Targets are approved by SBTi for near term & we have taken plan for Net Zero by 2050.

The company has built a new production plant, which is LEED-certified ‘Green Building’. The Green Building has both solar power and natural daylight, which aids in reducing its carbon footprint.

Indo Count has joined one of its major customers’ Walmart’s Project Gigaton. This project provides an emission reduction toolkit to a broaden network of suppliers seeking to eliminate one gigaton of emissions, focusing on areas such as manufacturing, materials, and use of products by 2030. At Indo Count, Project Gigaton is committed to reducing greenhouse gas emissions resulting from their operations and supply chains. The projects are focused on addressing social and environmental issues in ways that help communities while also strengthening businesses.

Indo Count strives to develop new and more sustainable offers by working with customers to meet and exceed their sustainability ambitions. Overall, 20 per cent of Indo Count packaging is sustainable.

Indo Count aims to reduce the risks posed by chemicals to workers and the environment. The Group continually improves the sustainability of its products through raw material choices, the use of organic dyestuff and reducing chemical usage, producing ranges that are eligible for Made in Green and Oeko-Tex Standard 100 labelling.