Aditya Birla Group company Grasim is expanding its textile and chemical business, which saw robust growth in the fourth quarter of the year. The investment will help Grasim maintain its leadership position in both segments, and also keep a tab on the rising competition from China, especially in the case of viscose staple fiber (VSF).
For Grasim 75 per cent of sales comes from India, up from 69 per cent the last year. Liva has helped better the company’s offering. In three years, Liva-tagged garments have seen a tenfold increase. In the last financial year, India had 30 million Liva tagged garments.
To increase awareness among brands on the use of viscose staple fiber, Grasim has two studios in Delhi and New York. In the value chain, the company is far from a designer, and that’s why through the studios it wants to showcase to the designer that if you use viscose this is the garment that you get.
In the last two years in India, the company’s growth is around 22 per cent. At a global level VFS is growing at four to five per cent and in India the industry average is eight per cent to nine per cent.
