Despite the fact that FY 2011-12 was one of the most difficult year for the textile industry worldwide, with the hike in cotton and yarn prices touching an all time high and the country witnessing a decrease in yarn production by 11% and fabric production by 17%, Rikhab C. Jain, Chaiman, T.T. Limited, shared that the company is looking for 50% growth in the knitwear business. Though the company faced market turbulences in the segment during the preceding year, due to slow demand and excise imposition issues, Jain claims the company plans to leverage its strong brand equity and expand over markets and products with strong designing, advertisement and merchandising.
T.T. Limited is planning to go for new advertisements as their marketing strategies, setting up exclusive shops and also go online both for sales and digital marketing. The yarn and fabric segments are expected to grow at 20% per annum according to Jain and the margins are expected to be much better than last year as well.
While the group’s emphasis on high margin business and focus on stable business portfolio is expected to deliver positive results, T.T Limited’s eco-friendly initiatives will help them build goodwill in the market and amongst the stake holders. Wind mills are being continuously added to reduce carbon emission based power by clean and green power and the mill in Tirupur is 100% on clean and green power. In addition to the same, the company is now drawing up a plan to harness solar power for all its manufacturing facilities and eventually the company will use only green and clean power.
[bleft]“The company intends to install solar power Plants offline for localized captive consumption within each spinning mill. We hope by 2016 all our mills and manufacturing units will be running 100% on clean solar / wind power.” [/bleft]
Jain claimed that all the TT Group mills will be on clean green power in the next three years, and all new projects are being planned on 100% green power usage. “The company intends to install solar power plants offline for localized captive consumption within each spinning mill. We hope by 2016 all our mills and manufacturing units will be running 100% on clean solar / wind power. This move is to promote eco-sustainability and will certainly be our bit of efforts to ‘save earth’ and to ‘save trees’,” shared Jain.
Other accomplishments for the company this year include the award of the Master Brand Status by CMO Asia (Affiliated of CMO Council, USA) recently and the fully operational high tech garments project in Tirupur, undertaken by the company during the past year.
