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Established in 1992 as a part of the Anna-Kitex group of companies, Kitex Garments is the largest employer in the private sector in Kerala, with employee strength of more than 7,000 at its facility. In 2014-15, the company clocked a turnover of over Rs 524 crore, according to the company website.
As part of its process of setting up operations in the US, the company entered into a license agreement earlier this month through Kitex USA, with Lamaze International Inc for manufacture and supply of infants garments in the US and Canada.
The company has informed the BSE that Kitex USA is scheduled to open its office in New Jersey by October 05, 2015. Through Lamaze Brand, the company has targeted a turnover of $50 million within next five years.
In April-June 2015 quarter, net profit of Kitex Garments rose 10.6 per cent year-on-year to Rs 15.97 crore, while its total income increased 9.3 per cent to Rs 114.98 crore. (RKS)
Fibre2Fashion News Desk – India
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