GTN to double capacity to tap local demand

GTN Industries, a major textiles manufacturer and supplier to global apparel brands, is shifting its focus to the domestic market to sell its branded apparels following a change in market dynamics.

The Hyderabad-based vertically integrated yarns, fabrics and apparels group has been a major contract manufacturer for global apparel majors. It exports polo shirts and formal socks market under the Cotstyle brand.

“We have been focusing on the exports market all through, and the high-end apparels like the ones manufactured by us were also not finding any encouraging response in the domestic market. However, the domestic market has now improved and also has the acceptance for high-end branded apparel. The fact that the global apparel majors have tapped the market indicates the changes that have happened in the domestic market,” M K Patodia, chairman and managing director of GTN Industries, said.

To cater to the demand from the domestic market, the company is also planning to double its capacity to about two lakh pieces a month from the present one lakh pieces at an outlay of `20 crore.

According to Patodia, the yarn and fabric facilities have been expanded to support the expansion of the manufacturing facilities.
The global branded apparel market is expected to reach $125 billion in five years from the existing $75 billion. The group currently exports its polo shirts and formal dress socks to countries including the US, Canada, Hong Kong, Japan, South Korea, Singapore, Italy, Germany and Netherlands among others.

It is also planning to tap new export markets such as UK, Ireland and South American countries.