Textile major Welspun aims at doubling its revenue by 2023. The strategy is to expand its share of branded and innovative products to half of the company’s overall revenues. During the period, the company also wants to completely trim its debt as it will not be needing any significant capital expenditure in future. Welspun has launched the mass market brand of home textiles.

The company has just entered the flooring business. Exports constitute 94 per cent of its total sales. Welspun will increase its focus on the domestic market, aiming for it to contribute to 20 per cent of the total sales.

Currently, the consumer-facing segment that consists of luxury and premium brands Christy and Spaces, respectively, as well as other innovation brands such as HygroCotton and Wel-Trak make for a total of 46 per cent of the company’s total revenue. This will be taken to 50 percent. Christy brand has been facing headwinds in the UK due to a weak economic sentiment led primarily by uncertainties regarding Brexit. The company is trying to tide over this phase by taking the UK-focused brand to other markets such as the US, China and the Middle East while focusing on the online retail channel.