Welspun Living expects its revenue from Indian market to triple by 2026-27

Share of Welspun Living's retail and emerging businesses, including flooring and advanced textiles, in its total revenue is also expected to go up by FY27

The revenue from Welspun Living Ltd's domestic business is expected to more than triple by 2026-27 (FY27) to Rs 1,700 crore, its managing director and chief executive officer Dipali Goenka said on Monday. In FY23, it stood at Rs 550.2 crore. 

In an interaction with Business Standard on the sidelines of Bharat Tex 2024, Goenka said that the company, formerly called Welspun India Ltd, is aiming to touch the Rs 15,000 crore revenue mark by 2026-27(FY27). In FY23, it was Rs 8,215.1 crore. 

"By the end of 2026-27, we are targeting Rs 15,000 crore from the topline for Welspun Living Ltd. And Rs 1,700 crore will come from the domestic business," she said. "It will include home textile and flooring for the domestic business." 

Goenka also said that the share of the company's retail and emerging businesses, including flooring and advanced textiles, in its total revenue, is expected to go up by FY27. 

"The emerging businesses that we have, that are flooring and advanced textiles, and our retail brand will contribute around 45 per cent to our topline. In this quarter, they are contributing around 34 per cent," she said. 

Welspun Living's retail business has two offerings. One is its premium offering Spaces, and the other is the affordable products brand Welspun. 

Goenka said that the company will continue to focus on tier-1 and metro cities for its Spaces brand. For Welspun, it is focussing more on tier-2 and -3 cities. 

Goenka highlighted that there has been a shift in consumer preference this year. Last year, the focus was more on premium products, "But interestingly we see this year mid to upper range, definitely being an opportunity," she added. 

Talking about the company's experience centres, Goenka said that the company's first such store has opened in Bandra in Mumbai and it is planning to open more such stores across the country. 

There is also a focus on the franchise business model. 

"As your brand gets stronger and recognised, the franchise is the way forward," she said.  

Goenka added that the company uses artificial intelligence (AI) in almost all parts of its business. 

"In the entire ecosystem of Welspun, we have that [AI]," she said. "From the point of sale in America to Shipsy, which traces our containers, and to our factory, which has a completely integrated Industry 4.0 technology."

"It's entirely completely connected."