Welspun has entered into an agreement with the Cotton Egypt Association (CEA) to promote and market Egyptian cotton products worldwide at an investment of $3 million. The agreement would allow use of the Egyptian cotton logo on the packet of Welspun products for five years and also gain better access to Egyptian cotton supply.
Welspun is also exploring options to set up a manufacturing facility for Egyptian cotton home textile products in Egypt. “We foresee an increase in demand for Egyptian cotton and find an ideal condition for making Egypt one of our hubs for sourcing and manufacturing Egyptian cotton products. We are looking at the best option to utilise this opportunity,” said Dipali Goenka, chief executive officer and joint managing director, Welspun India.
Source: Business-Standard