Spenta to ramp up capacity at Palghar

Spenta International, manufacturer and exporters of cotton socks in the country, is expanding its capacity by 33 per cent by installing 28 new Italian machines called Lonati at a cost of Rs 4 crore.

At present, the company has 68 Italian knitting and weaving machines at Palghar, which it plans to raise further.

The company produces about 45 lakh pairs of socks which after expansion would go upto 60 lakh pairs per annum.

It claims to be the largest socks manufacturer and exporter in India.

"We have already bought land at Palghar for installing new machines, expected to arrive shortly. These would be installed by our technicians and production would start within two months," said Danny Hansotia, managing director.

"We are planning to set up a centre in Dubai for an easy access to the European and US markets. Hence, we have decided to go ahead with our Dubai plan by installing 100 knitting and weaving machines. We may opt for other locations in the country such as Goa, Assam, Karnataka," Danny said.

The company was established as 100 per recent export-oriented unit. But its focus has changed to domestic market seeing its huge potential.

The company manufactures a variety of socks for gents, ladies, kids, multipurpose wristbands and headbands under the "Spenta" brand and supplies to Nike, Lacoste, Fila, Raymond, Pantaloons, Puma and a number of other domestic as well as international companies.

The company plans to set up retail outlets too. By focusing on quality, Spenta targets 20 per cent growth in turnover and similar growth in net profit.