Category: HOME TEXTILES
Country: India
By Jennifer Marks
Editor in Chief
7th May, 2025.
Fast Facts
-Sharadha Terry receives $1.75M to launch Sri Gugan Mills in Tamil Nadu
-The new plant will produce sustainable bath and area rugs, expanding the company’s product range
-The rugs unit has an annual capacity of 4 million square meters
-The Good Fashion Fund‘s investment in Sharada Terry deepens its involvement in the home textiles segment
Amsterdam – Indian home textiles manufacturer Sharadha Terry Products Private Limited has received an investment from the Good Fashion Fund for its new bath and area rugs unit, Sri Gugan Mills.
The $1.75 million (US) loan will support the set-up of production in Metupalayam, Tamil Nadu, along with the installation of a state-of-the-art tufting machine and accessories. The new rugs unit has an annual capacity of 4 million square meters and will primarily produce dope dyed polyester bath rugs and cotton bath rugs, with other recycled fibers under development for new products.
The sustainable production unit will significantly reduce water consumption and eliminate the usage of hazardous chemicals typically used in conventional dyeing from its process. A dedicated effluent treatment plant (ETP) for the rugs unit will recover up to approximately 98% of wastewater. The unit will be operated by workers from the nearby regions of Metupalayam and is projected to create more than 200 jobs for male and female workers.
“This investment enables us to expand our product portfolio into bath and area rugs while reinforcing our deep commitment to environmental stewardship and community development,” said Vikram Krishna, managing director of Sharadha Terry Products Private Limited.
The Good Fashion Fund was initiated by Fashion for Good and is a collaboration between Laudes Foundation, The Mills Fabrica and the Found investment firm, complemented by Rabobank as lender to the fund. The fund provides long-term USD loans in addition to technical and environmental and social expertise to manufacturers in Asia, primarily India and Bangladesh. Financing is to be used to invest in impact equipment that boosts both economic growth and sustainable manufacturing practices.
With the Sharadha loan, the Good Fashion Fund is now fully invested, and Fount is aiming to establish a follow-up fund (Good Fashion Fund 2.0). Current partners under the first fund include K.K.P Fine Linen (India), Pratibha Syntex (India), Sri Kannapiran Mills (India), Progress Apparels (Bangladesh) and EPIC Group (Bangladesh).
Bob Assenberg, fund director of Good Fashion Fund, noted the investment in Sharaha expands the fund’s presence in the home textiles segment.
“As an established company with rich legacy in the bath textile segment, Sharadha Terry continues to aim for new opportunities in the bath and area rugs segment as well,” he added.
Sharadha Terry produces premium bath textiles under the global MicroCotton brand as well as manufacturing private label programs. It is part of a vertically integrated textile group KG Worldwide.
Courtesy: hometextilestoday.com
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