Knitwear maker is professionalising its team and focussing on export markets
Having completed 50 years in business, one of the leading knitwear brands in India Rupa & Company has embarked on a high growth path with an aim to double its revenue in three to four years and become the industry leader through profitable growth.
For FY19, the company reported a net profit of ₹93.37 crore on a sales revenue of ₹1,108.24 crore.
As a first step, the company has started professionalising the leadership team by hiring talent from outside.
Six months ago, it inducted its first CEO Dinesh Lodha, who had previously worked with GE and Samsung. The mandate to Mr. Lodha was to drive growth through geographical expansion as well as getting into new segments and launching new products.
The company has hired a professional to head the exports business.
Similarly, new heads for sales, and IT have been recruited. The company is in the process of hiring a HR head and creating new positions besides hiring vertical heads.
“Over the last 50 years, Rupa has successfully become a household name. Currently, we see a huge growth potential in womenswear, kidswear and athleisure,” said K.B. Agarwala, MD, Rupa & Company.
“Professionalising the team, strengthening our international and domestic presence and focussing on premium products are crucial,” he added.
In the domestic market, the company has decided to strengthen its presence in Central, North and South India markets.
Focus has been accorded to the export markets of Africa and West Asia.
“We have been exporting to Africa but now we are focussing more on that market and West Asia where demand for our products is huge. Our target is to double our export revenue in two years,” Mr. Lodha said.
Besides, the company is focussing on women and kidswear segments.
“Also, we are focussing on inner wear and outer wear as well. More premium products will be launched in the future and this segment will drive the next phase of growth,” Mr. Lodha added.
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