Welspun India

Welspun India is a textile company based in Mumbai, Maharashtra, India.[1] It is Asia's largest and the 2nd largest terry towel producer in the world[5] It exports more than 94% of its home textiles products to more than 50 countries. It exports more than 68% of its production to US, 23% to Europe and the balance to Middle East, Australia, Mauritius.[6] It supplies to 17 out of the top 30 retail chains in the world.[7] In 2016 it got embroiled in a scandal for allegedly mislabeling its bedsheets as made out of Egyption Cotton. Target has severed ties with Welspun over this issue. Two class-action lawsuits have also been filed against Welspun India Ltd.[8]

Welspun India Ltd
TypePublic company (BSE: 514162) (NSE: WELSPUNIND)
IndustryTextile
Founded1985
Headquarters
Mumbai, Maharashtra[1]
,
India
Area served
Worldwide
Key people
B K Goenka, (Chairman)
Dipali Goenka (CEO & Joint MD)
ProductsTerry Towels & Home Furnishings[2]
Revenue₹5,400.0 crore (US$760 million)[3]
ParentWelspun Group
SubsidiariesWelspun USA Inc & Sorema- Tapates e Cortinas de Banho, SA[4]
Websitewww.welspunindia.com

History

It was incorporated on 17 January 1985, as a Private Limited Company in the name of Welspun Winilon Silk Mills Pvt. Ltd. at Mumbai. It was established to manufacture Polyester filament yarns (PFY) and texturised yarns (PTY). In 1995, the name changed from Welspun Polyester to Welspun India Ltd.[9]

References
  1. "Welspun". welspuntowels.com. Retrieved 3 January 2011.
  2. "Welspun India to demerge divisions - Corporate News". livemint.com. 16 September 2008. Retrieved 3 January 2011.
  3. "BSE Plus". Bseindia.com. Retrieved 22 March 2020.
  4. "The Hindu Business Line : Welspun acquires 76% stake in Portuguese co". Blonnet.com. 20 December 2007. Retrieved 3 January 2011.
  5. "Welspun". welspuntowels.com. Retrieved 3 January 2011.
  6. Piyush Pandey / Ahmedabad 27 December 2004 (27 December 2004). "Welspun lines up spread, technology upgradation". Business Standard. Retrieved 3 January 2011.
  7. NULL. "CARE reaffirms rating of Welspun India Ltd". Moneycontrol.com. Retrieved 3 January 2011.
  8. "U.S. Consumers Sue Welspun Over Cheap Sheets as Fallout Widens". Bloomberg. Retrieved 15 September 2016.
  9. "WELSPUNIND History | Welspun India Ltd Company History & Profile". The Economic Times. Retrieved 3 January 2011.

Official website

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