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Hyosung to set up a spandex unit in India

Korean conglomerate Hyosung is setting up a spandex yarn factory in India. The Hyosung is known for its spandex brand Creora, which has about a 50 per cent market share in India. Market demand gas pushed Hyosung to set up a new factory in India. Hyosung sees India among its top five spandex markets with sustained growth. Hyosung grows about eight per cent a month in the Indian market, which has led to more than 50 per cent growth a year.

Hyosung is the largest producer of spandex in the world with its Creora brand. It expects to reach 2,30,000 metric tons by the end of this year. Creora is being used for intimate wear, denim, knitwear, woven garments and swimwear. Creora has many classified products to meet apparel mills’ requirements.

In India, the company is working with manufacturers engaged in producing woven, denim, knitted, narrow fabric elastic, warp knitting textiles and diapers including Vardhman, Ginza Industries, Pratibha Syntex, Maral Overseas and many others. The primary mission of the group is to support the growth of Indian and southeast Asian textile manufacturers through new products, exceptional service and trend presentations.

The spandex market in India is growing continuously as the demand is driven by increasing consumer awareness about healthy lifestyles and the demand for comfort in various kinds of apparel, including denim.