Himatsingka's Himêya Brand Aims for Presence in 10,000 Indian Stores

Global textile manufacturer Himatsingka is set to make a significant mark in the Indian retail landscape with its brand Himêya, as it unveils ambitious plans to establish a presence in 10,000 stores across the country. Akanksha Himatsingka, CEO of Home Textile Solutions, revealed the brand's initial target of reaching 1,000 stores by the first quarter of the coming year.

Originally launched in 2019, Himêya was positioned to cater to the high-end/premium segment. However, in a strategic shift, the brand has embraced accessibility, offering a diverse range of products across various price points. With offerings starting at a competitive price point of Rs. 299 for a bath towel and a sheet set priced at Rs. 1399, the brand aims to cater to a wider consumer base.

"We are offering products starting from a price point of Rs. 299 for a bath towel and sheet set of Rs. 1399 these are all aggressive price points, and over the years we’ve continued to evolve in a way and have now become extremely diverse in our offering," remarked Akanksha Himatsingka. She emphasized the brand's evolution to accommodate diverse preferences and aesthetics.

Having already secured a presence in 70–80 multi-brand outlets, predominantly in large-format stores and online platforms, Himêya sets an ambitious goal of generating Rs. 1000 crore in revenue over the next five years. The company's recent second-quarter performance reflects a positive trajectory, with a notable 17% year-on-year growth in total income to Rs. 748.15 crore, compared to Rs. 639.68 crore in Q2 FY23. The profit after tax (PAT) for Q2 FY24 stood at ₹28.78 crores, a significant improvement from the loss of Rs. 33.89 crore in the same quarter last year.

This positive performance is attributed to improved capacity utilization levels, softened raw material costs, and marginalizing energy costs. Himatsingka highlighted the company's cautious optimism, considering the consistent demand from large Fortune 500 clients globally.

Addressing the global demand environment, Akanksha Himatsingka noted that the company's diverse spread shields it from massive fluctuations. "Today, we work with some of the large Fortune 500 clients, and they don’t really have volatilities of this kind, and largely demand remains consistent. However, we remain cautiously optimistic."

In addition to its global footprint across North America, Europe, and Asia, the integrated textile group operates a 400-acre campus in Karnataka, where it designs, develops, manufactures, and distributes a range of textile products. While there are no immediate plans for capacity expansion, the company remains focused on its strategic growth initiatives in the Indian market.

HBL