Lux Industries to invest Rs 100 cr on expansion activities
Mumbai: Leading innerwear player Lux Industries Ltd is going to invest Rs 100 crore on plant, machineries and marketing activities.
"We plan to have additional investment of Rs 100 crore on plant, machineries and marketing and launch new products," Lux Industries Chief Operating Officer Dilip Newar said in a statement.
Lux Industries produces more than 100 products and has over 5 lakh retail outlets all over India.
"The Indian market has tremendous potential in the premium undergarment and inner wear market. In men's premium segment, we expect to have 25 per cent market share by 2016-2017," Newar said.
Lux Industries has also started exploring international markets and established a strong presence overseas, with offices in the Middle East, Europe and Africa.
The company's premium inner wear brand ONN plans to launch its new off springs this season to meet demand of urban and semi-urban youth, which will be endorsed by Shahrukh Khan.