Ahmedabad, Jun 6 (UNI) Pradip Overseas Limited (POL), city-based home linen manufacturing company, today announced the launch of an American brand ''Lucy B Linen'' in the fast-emerging home textile market of India.
Under the ''Lucy B Linen'' brand, Pradip Overseas will manufacture the entire range of home textiles that is bed sheets, pillow covers , curtains, cushions, towels, napkins and quilts.
The distribution of the product would be taken care by C A Patel Textile Pvt Ltd (CAPS), for the domestic marketing.
''The joint venture of POL and CAPS will provide an opportunity to introduce the ''Lucy B Linen'', an international brand, in the domestic market of home linen,'' said Pradip Karia, Chairman and Managing Director of Pradip Overseas Limited.
''The main aim of the joint venture is to provide the home linen products of international quality at an affordable price across the country including the rural areas,'' said Chetan Karia, Vice Chairman of Pradip Overseas Ltd.
Pradip Overseas Limited (POL) has a 20-year-old legacy in the home linen products and one of the modern and largest state-of-the-art manufacturing units at Ahmedabad.
''The total current domestic market of home linen products is estimated to be close at Rs 8,400 crore and it is expected to grow at the rate of 9 per cent per annum as per CAGR. The main drivers of such a growth is the sustainable real GDP growth of the country increase in retail penetration and widening of market. Rising income levels accompanied by rise in aspirations and changing lifestyle patterns, like increasing usage of credit cards,'' Mr Karia said.
''Further with the growth in hotel and health care industry, per capita textile consumption is likely to go up from about 20 mtrs to 30 mtrs by 2010,'' he added.
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