The Economic Times: April, 2015
New Delhi: US based home textile company Nextt which is as a key supplier to big retailers such as Walmart, Target, Kohl's, Dillard's etc. may soon introduce its popular brands to Indian market, according to its CEO Arun Agarwal who has been in India to explore what he says "Make in India" possibilities. The $500-million company that manufactures home textiles, garments, apparel fabrics and polyester yarns, sells popular brands such as Trina Turk, Kathy Ireland, Jessica McClintock, Raymond Waites etc.
"We already have textile leadership in US. As we have a tie-up with Alok Industries in India, we have decided to be a part of the Indian government's Make in India initiaitve. By the end of this year, we should be able to introduce our popular brands to the Indian market," Agarwal told ET. Currently, 80% of Nextt's products are being sourced from India, but those are sold mostly in US and other western markets.
Agarwal who went to study in Harvard University in US in 1990s before turning into an entrepreneur, has been associated with home textiles sector for the last 15 years. "Today Indian consumers can differentiate between a quality product and an ordinary product. The purchasing power has also increased manifold. This is the time, we should introduce our brands to the Indian consumers," he said.
On India-China textile comparison, Agarwal said India has already taken a leadership position in high-value textile though China is way ahead in apparel segment.