Kitex crosses Rs.1,000 crores revenue milestone

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Kochi: Kitex, the Kizhakkambalam based manufacturer and exporter of Infant Garments has crossed the magical figure of Rs.1,000 crores in total revenue in the last fiscal. In the financial year of 2018-19, Kitex registered total revenue of Rs.1,005 crores.

The total revenue comprises of Rs 630 crores by the listed entity Kitex Garments Limited and Rs 375 crores by Kitex Childrens Wear Limited. Kitex Garments standalone total revenue has reported a growth of 12.38 % in the fiscal.

In a press release, Sabu M Jacob, MD & CEO of Kitex, said “We are happy to touch the number of Rs.1,000 crore in total revenue. By 2025, our target is to attain a total revenue of Rs 2,165 crores from Kitex Garments and Rs 1,000 crores from Kitex Childrens Wear.

Established in 1992, as part of the renowned Anna-Kitex group of companies, Kitex is the world’s third largest manufacturer of children’s apparel. It manufactures clothing for the age group that ranges from infants up to 24 months, primarily targeting the US market. A whopping six lakh pieces of infant apparel are being manufactured at Kitex factory a day. Ninety per cent of the export is to the US and the rest to European countries.

Kitex has been a leading supplier of infant wear to the best-known global brands and retail giants like Walmart, Target, Amazon, Carter’s, Gerber, Oshkosh, Buy Buy Baby, Sam’s club etc. The company aims to increase its manufacturing capacity to 22 lakh per day by 2025. Besides, a new fleet of baby products; socks, diaper, baby wet wipers are being planned to be manufactured from the Kitex factory at Kizhakkambalam near Kochi eyeing global market.

Kerala Biz News

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