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Lux Industries reports for Q3FY24

Indian hosiery giant Lux Industries reported a 12 per cent increase in net profit to Rs 20 crore ($2.5 million) during the third quarter ended December 31, 2023, compared to Rs 18 crore in the same period last year. This positive profit growth came despite a 3 per cent decline in total income, from Rs 463 crore to Rs 450 crore year-on-year.

Lux's womenswear brand Lyra saw impressive volume growth of 53 per cent Y-o-Y indicating strong demand in this segment. Its core men’s innerwear brand Lux Cozi maintained a stable growth of 2 per cent. The company experienced a sluggish export demand coupled with a delayed winter season and general economic slowdown during the quarter.

To drive future growth, Lux Industries plans to expand its product portfolio with a focus on athleisure clothing and the womenswear segment to drive future growth. The company aims to strengthen its online presence and generate Rs 100 crore in revenue from e-commerce sales within the next three years.

Lux Industries operates several popular brands like Genx, Onn, and the eponymous Lux, making it a major player in the Indian hosiery market. The company’s strategic focus on womenswear and athleisure, coupled with its e-commerce expansion plans, could position it for continued success in the future.


India's Textiles fueled by innovation & trade deals

17 January 2024, Mumbai

Why India

Fueled by government incentives and lucrative trade deals, India's manmade fiber (MMF) textile exports are set to skyrocket by 75%, reaching $11.4 billion by 2030.

This remarkable feat, a significant jump from the roughly $6.5 billion in 2021–22, will solidify India's position as the world's second-largest MMF producer, trailing only China.

Opportunities galore

Home textiles like curtains, drapes, and tents made from synthetic fibers lead the charge, fueled by growing global demand.

Technical textiles, praised by government officials as the future of the industry, also boast ambitious growth targets. MMF currently reigns supreme in the global market, capturing a 72% share compared to natural fibers.

This dominance stems from sustainable advantages like lower water consumption and higher cost-effectiveness.

Pushing the envelope

Beyond existing strongholds like the US and Brazil, India aims to tap into promising new markets like Vietnam and Japan. Domestically, strategic plans are in place to boost production capacity and processing capabilities for diverse MMF fabrics.

Bhadresh Dodhia, Chairman of the Synthetic & Rayon Textiles Export Promotion Council, champions the environmental benefits of MMF textiles.

He points to their lower water footprint compared to cotton and their versatility for value addition. He also anticipates a surge in the use of technical textiles, driven by evolving lifestyles and heightened safety and health awareness.

Fuels optimism

Moving ahead: With innovation and trade fueling its ascent, India's textile industry is poised to weave a $11.4 billion success story by 2030, reaffirming its place as a global leader in sustainable and versatile fabrics.


  • Home textiles lead charge, 72% global share for MMF.
  • New markets, boosted capacity fuel domestic growth.
  • Innovation weaves $11.4B success, textile leader in versatility & sustainability.

Latest Textile Events


India to Boost Exports with Dedicated Showroom and Warehouses in UAE

05 January 2024, Mumbai

Bharat Park: India Opens Gateway to Global Markets in UAE with Showrooms and Warehouses

  1. Minister of Textiles & Commerce, Shri Piyush Goyal, announced plans for "Bharat Park" in the UAE, a dedicated space housing Indian goods showrooms and warehouses. This strategic move aims to facilitate global access to Indian products and capitalize on the secure payment system in the UAE.

    Key Points:

    • Bharat Park: This initiative addresses concerns about low utilization of Free Trade Agreements (FTAs) with Japan, Australia, UAE, and South Korea. By streamlining access and showcasing Indian products in a secure environment, the park aims to boost exports significantly.
    • Focus on Man-Made Fibre Textiles (MMF): Recognizing the future potential of MMF, Shri Goyal emphasized its importance for export growth. Despite a recent dip in exports, SRTEPC Chairman, Shri Bhadresh Dodhia, remains confident in reaching $6 billion for MMF and $3 billion for technical textiles in 2023–24.
    • Ambitious Targets: SRTEPC sets ambitious targets of $11 billion for MMF and $10 billion for technical textiles by 2030.
    • Addressing Challenges: The inverted duty structure within the GST system, with higher taxes on raw materials than finished products, is creating cost burdens for manufacturers. SRTEPC urges the government to address this issue and extend the Interest Equalization Scheme to the entire textiles & clothing (T&A) value chain.

    Overall Significance:

    "Bharat Park" symbolizes India's commitment to enhancing its presence in the global market by creating a convenient and secure platform for international buyers.

  2. This initiative, coupled with government support and industry efforts, aims to propel India's MMF and technical textile exports to new heights.

Latest Textile Events


India anticipates next major consumption surge in the New Year

30 December 2023, Mumbai

WHY India

India, with its booming population of 1.4 billion, is defying global economic uncertainties as consumer optimism soars. Deloitte's Financial Well-Being Index (FWBI) reveals India's impressive score of 109.1 in October 2023, surpassing the global average of 91.9.

Rise in aspirational spending
This positive outlook is fueling a surge in consumption, particularly of discretionary and aspirational products. Deloitte's ongoing initiative, Consumer Signals, reports that 77% of Indian consumers are unwilling to delay significant purchases, with 70% having indulged in the past two months.

Premium brand appeal
Notably, over 50% of consumers express interest in investing in premium consumer durables, and 57% are ready to splurge on premium food and grocery items. The Indian economy's growth is pushing consumers toward luxury spending, with the overall luxury market projected to reach $30 billion by 2030.

Expanding luxury landscape
Global luxury brands are capitalizing on this trend, expanding their presence in India. This not only attracts new buyers but also retains consumption within the country, previously fulfilled through overseas travel.

Diverse consumer preferences
Increasing affluence has made consumers more discerning. They seek differentiated, localized offerings beyond popular brands, driving the growth of specialized direct-to-consumer (D2C) players and private-label businesses.

The new commerce landscape
The rise of new commerce, including D2C, social commerce, quick commerce, and live commerce, is transforming the consumer shopping experience. Predicted to be 40% of the e-commerce market by 2030, it offers diverse choices, pushing brands to prioritize customer experience as a key growth driver.

Technology integration
Brands are leveraging technology, with generative AI emerging as the future for enhanced consumer experiences. Its growing usage enables better conversations, effective communication, and personalized fulfillment processes, propelling brands to reinvent and scale efficiently.

 Latest Textile Events


New SS’24 collection by Jaypore blends Indian craftsmanship with modern aesthetics

Seamlessly blending age-old Indian craftsmanship with contemporary flair, Jaypore has unveiled its Spring Summer '24 (SS’24) collection. Embracing the essence of the warm season, the collection offers a wide range of breathable cotton garments, featuring floral dresses, kurtis, and trousers, meticulously designed to marry comfort with style.

The SS'24 lineup offers an exquisite collection of Indian crafts, including block prints, ajrakh, hand embroidery, and ikat, etc. A highlight of this collection is the 'Lagom' range. Inspired by the Bauhaus aesthetics, this range seamlessly blends modern design with traditional Ajrakh prints for a captivating fusion of artistry and sophistication.

The Kaashni range features line-drawn floral motifs and vibrant block prints that epitomise the essence of spring. Meanwhile, dedicated to Goddess Parvati, the Gauri range comprises classic ethnic silhouettes and khadi block prints that radiate purity and brilliance.

The Chippa and Aadir menswear collections present modern interpretations of traditional craft techniques, such as hand-pressed block prints and striped patterns, catering to contemporary tastes with finesse.

Besides apparel, Jaypore's SS'24 collection boasts artisanal accessories like tribal silver earrings, filigree necklaces, and temple jewelry. Priced at Rs 3,000 and above, the collection beckons fashion enthusiasts to delve into India's rich legacy of craftsmanship.

Available both in Jaypore stores nationwide and online, the SS'24 collection celebrates the timeless allure of Indian craftsmanship intertwined with modern aesthetics.

Renowned as one of India's premier artisanal brands, Jaypore offers a diverse spectrum of apparel, jewelry, home decor, and accessories. While catering to modern sensibilities, the brand continues to celebrates India’s rich heritage with its showcase of authentic Indian products.

Sooraj Bhat, CEO - Ethnic Business, Aditya Birla Fashion and Retail, says, the SS’24 collection is a testament to Jaypore's unwavering dedication to harmonise traditional craftsmanship with contemporary aesthetics. It embodies the qualities of timeless elegance, comfort and craftsmanship, that are requisite for the season.


New SS’24 collection by Jaypore blends Indian craftsmanship with modern aesthetics

RDPL invests Rs. 10 cr in six mega stores for Punjab expansion

Re-commerce platform Rockingdeals Pvt. Ltd. (RDPL) is set to expand its footprint with the opening of six mega stores in Punjab, investing a total of Rs. 10 crores.

This strategic move aims to strengthen RDPL's offline market presence, eliminating third-party involvement and directly connecting with customers.

The company, already successful in Haryana, Uttarakhand, Delhi, and Bihar, sees tremendous potential in Punjab's markets.

The new stores in Barnala, Moga, Morinda, Panipat, Abohar, and Bannur will unfold over the next 12 months, marking a significant milestone for RDPL's nationwide expansion.

RDPL invests Rs. 10 cr in six mega stores for Punjab expansion

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