Neva Garments eyes 25-30% growth

A pioneer in the segment of thermal innerwears, Neva Garments Ltd has set itself the target of achieving a growth rate of 25-30 per cent in the next four years. Four ears ago, the firm introduced the concept of thermal innerwear.

"To achieve the target, the company is planning to launch new products, expand the marketing network, and identify high-growth segments including exploring high-potential export markets. Thermal innerwears are seasonal products whereas our aim is to reach out to customers throughout the year, and so now we have ventured into innerwear and lingerie segments for both men and women," said Vishal Jain, Neva executive director.

"We have already started marketing these products and the response is very encouraging," he said, adding by next year the company's major thrust would be on lingeries.

"We expect to achieve a growth rate of about 20-30 per cent, which will primarily come from the innerwear segment. Besides catering for the domestic market, we are also looking at major exports next year," Jain said.

Last year the company exported to the Middle East and now, it is looking forward to "exploring Europe and North America".

After extensive research and development, the company was also planning to foray into knitted and allied products like casual outwears, home furnishing, and bed linen, he added.