The Rs2,300 crore Yash Birla Group is on its way of expansion. It plans to build its own clothing brand under Birla Cotsyn Pvt Ltd and set up a retail chain across the country.
The company also wants to penetrate home furnishing fabrics including terry towels and synthetic yarn which are dominated by major competitors like Welspun, GHCL and Alok Industries by next year.
The company is investing Rs300 crore to expand its capacity from spinning to fabrics and plans to spread out to areas in the textile value chain, like weaving and processing.
It has also planned to increase its spinning capacity by 65,000 spindles for both cotton and synthetic yarn from 55,000 spindles.
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