Welspun India To Focus On New Segments To Arrest Falling Volumes
Welspun India Ltd. will leverage its new hospitality and e-commerce channels to keep shrinking volumes afloat, according to its Chief Financial Officer Altaf Jiwani.
“[We are] focusing on our new channels—hospitality and e-commerce,” Jiwani told BloombergQuint, adding that he expects to see substantial traction coming into hospitality.
The textile maker’s volume growth contracted in the second quarter, but the company will be addressing it through infrastructure it has already set up. “All the building blocks needed to grow the e-commerce business has been put in place,” Jiwani said, adding he expects to see substantial growth going forward.
About 70 percent of Welspun’s revenue comes from the mainstay textile business in the U.S., he said. “The complete back-end has been put in place for drop shipment and for servicing orders from e-commerce.”
WATCH | Welspun India CFO Altaf Jiwali on the company’s business outlook