The Textile Conglomerate

Category: General

Country: India

Region: Asia Pacific

The textile manufacturer has been built and nurtured by two generations of the Oswal Family, and now the third generation is committed to take Vardhman to greater heights. Suchita Oswal Jain (Vice Chairman and Joint Managing Director) has been a driving force behind the strategic growth of business.

By Sujata Sangwan
July 20, 2023.

Vardhman Textiles embarked on its journey with 6000 spindles, and today, it has emerged as one of the largest integrated textile manufacturers in India, with a turnover of more than a billion dollars. Since its inception in 1965, under the dynamic leadership of Chairman S P Oswal, the Group claims to have undergone a remarkable transformation, evolving into a modern-day textile major.

The textile manufacturer has been built and nurtured by two generations of the Oswal Family, and now the third generation is committed to take Vardhman to greater heights. Suchita Oswal Jain (Vice Chairman and Joint Managing Director) has been a driving force behind the strategic growth of business.

Recognising the untapped potential in the fabric segment, she spearheaded the establishment of Vardhman's first fabric manufacturing unit at Baddi, HP (Himachal Pradesh) in 1992. "This move paved the way for the Group's expansion into uncharted territories and solidified its position as a comprehensive player in the textile industry," said Ms. Jain.

Her strategic vision also led to the establishment of composite units, integrating spinning, weaving, and processing under one roof.

With over 18 units across four states, the Group's diverse manufacturing capabilities encompass yarns, fabrics, garments, acrylic fiber, sewing threads, and special and alloy steels. With a spindle count of 1.2 million, Vardhman boasts of being the largest fabric processing capacity in the country, with a capability to process 180 million meters per annum.

Today, Vardhman claims to be a major supplier of yarns to businesses such as Toyobo, Australtex, and Decathlon, among others. "Our reach extends beyond the domestic market, as we proudly export our products to over 75 countries worldwide. Additionally, the Group has established itself as a trusted partner to global brands including GAP, Uniqlo, Marks & Spencer, Target, H&M, Kohl's, Calvin Klein, and Muji, Zara, etc catering to their fabric requirements," added Ms. Jain.

Speaking about the challenges, Ms. Jain further said, "Indeed, the challenges to achieve business growth can evolve as a result of market conditions, technological advancements, customer preferences, and regulatory changes. At Vardhman, we understand the importance of continually assessing and adapting our strategies to overcome these challenges and foster sustainable growth."

"By continuously innovating and introducing new products, we strive to meet the evolving needs and preferences of our customers. This proactive approach allows us to maintain a competitive edge and drive growth in the dynamic business landscape," she stated.

Facts:
>> Year of inception of the company: 1965
>> Turnover for FY 2022-23: INR 12003 Crores
>> No of Employees: Over 30000
>> Head Office Location: Ludhiana, Punjab.

Courtesy: Entrepreneur.com