Grasim Industries is a part of Aditya Birla Group, which is known as the largest fashion (premium branded apparel) and lifestyle player and the second-largest manufacturer and largest exporter of viscose filament yarn and the largest manufacturer of linen fabric. The company has emerged as the strong player in VSF segment and KK Maheshwari, MD, Grasim Industries, believes that VSF can fulfil consumers’ demand for a natural product which is also soft and comfortable.

Though the company is one of the leading exporters of VSF, Maheshwari says that there are enormous opportunities in India itself with population on par with China. However, while domestic sales are a little over $70 billion for textile and clothing, in China it is over $700 billion. With Indian consumers showing rising interest in fashion along with growing economy and spending power, Maheshwari feels that like export markets even Indian markets offer huge opportunities for growth. So the company started focusing on ethnic wear by tying up with brands and designers with Liva, which has now been launched as brand in itself. The company exports to over 40 countries.

While prices of VSF have been witnessing an improvement in the last two quarters, Maheshwari says that slowdown in China and devaluation of yuan could make an adverse impact. However, Grasim is ready to deal with such volatile situations that keep emerging and Maheshwari is certain that with growing preference for natural products, the Liva-based garments will continue to have a great future.

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