Lux Industries sets Rs.100 crore export target this fiscal

Kolkata (IANS)- Innerwear manufacturer Lux Industries is targeting a export turnover of Rs.100 crore this fiscal (2010-11),  a top company official said here Tuesday.

"We are targeting a turnover of Rs.100 crore in the current fiscal from exports. We had a turnover of Rs.30 crore from this section last year (2009-10)," Navin Todi, managing director of the company, told reporters at a press conference.

 The company is present in markets in the Middle East, especially Dubai, andis exploring markets in South Africa and Europe.

"We are getting lots of queries from countries like Poland, the Czech Republic and Slovakia. We are planning to set up a distribution base over there," Manoj Lunia, brand consultant of the company, said.

It plans to log a turnover of Rs.500 crore in the current fiscal up from Rs.412 crore in the last year.

The company, which has two manufacturing units in Kolkata and Coimbatore, manufactures 500,000 pieces a day. It plans to increase this to 750,000 pieces per day by the end of this fiscal.

"We are investing Rs.10 crore over two years for our capacity augmentation," he said.

The company plans to increase its market share to 20-25 percent from the present 10-15 percent, Lunia said. The innerwear market in the country is Rs.6,000 crore, of which Rs.3,500 crore is organised market.

Lux Industries is listed in the Calcutta Stock Exchange and the company is planning to list in the national bourses -- Bombay Stock Exchange and National Stock Exchange in the next three years.