Hosiery producer Lux Industries plans to set up a manufacturing and storage facilities with an investment of Rs 110 crore in the next 1-2 years. The facility is expected to generate sales worth Rs 400 crore once it is operational. The facility will be spread over 30 per cent of the 6 lakh sq. ft. land parcel identified by the company while the rest of the land will be used for warehousing, storage and finishing facilities.
The facility will help the company to improve its market share in new segments like kids and women’s innerwear, says Ashok Kumar Todi, Chairman. The Kolkata based firm has nearly 14 per cent market share in the organized men’s innerwear market, primarily catering to the economy and mid-premium segments. It was set up as the Biswanath Hosiery Mills in 1957 by Girdharilalji Todi.
The next 20 years saw the company growing 100 times in size through a series of marketing and manufacturing innovations. This included launching the Consumer Coupon Scheme in 1992. Same year, Lux became the first company in the industry to use celebrity brand ambassadors. In 1992, Lux launched their first television commercial while in 1993, it launched its export operations and quickly established a strong presence overseas, with offices in the Middle East, Europe, and Africa.