Welspun India Ltd has entered into a cooperation agreement with Cotton Egypt Association to promote and market Egyptian Cotton products worldwide. The agreement will help enhance the complete supply chain of the Egyptian Cotton starting from cultivation to the final product, which will also benefit the Egyptian farmer and the industry as a whole.
After verifying Welspun’s quality and supply chain reliability processes, the Cotton Egypt Association has granted the company the right to use the Egyptian Cotton logo for five years until 2022. The two organisations will now work together to create programmes for promotion of Egyptian Cotton logo in the retail markets across the globe.
Welspun will invest a sum of $3 million in a stage wise manner over the next few years to support the joint initiatives.
“The sheer nature of Egyptian Cotton makes it a luxury to be cherished by all. Welspun wants the world to know about Egyptian cotton and we want to help promote it among the consumers and the makers alike. Welspun will help create marketing programmes and execute them using its extensive global network,” explained Dipali Goenka, CEO and joint MD, Welspun India.
Welspun is also exploring options for expansion of its Egypt operations to include a manufacturing facility for Egyptian Cotton home textile products. “We foresee an increase in demand for Egyptian Cotton and find an ideal condition for making Egypt one of our hubs for sourcing and manufacturing Egyptian Cotton products. We’re looking at the best option to utilise this opportunity,” added Goenka.
Widely regarded as an innovations driven company, Welspun India Ltd has filed for 27 global patents of which nine have already been granted. Apart from revamping its Christy brand to make it youth-friendly, Welspun is also increasing its global footprint with new stores in the US, China, Middle East and in the UK and working on increasing its associations similar to Wimbledon and Rugby World Cup.
The Cotton Egypt Association, established by the Egyptian ministry of industry and foreign trade and Alexandria Cotton Exporters Association, is mandated to manage, promote and protect the Egyptian Cotton and the Egyptian Cotton Logo worldwide. (RKS)
Source:Fibre2Fashion News Desk – India