Tamil Nadu based Coimbatore-headquartered Sharadha Terry Products has unveiled a new brand identity and logo for its ‘Micro Cotton’ brand of home textile products and reaffirmed its commitment to strengthen its presence in India.
The company's director, D Vikram Krishna, stated "“We launched Micro Cotton in New York first. Our products are now sold across 30 countries worldwide. This re-branding reaffirms the evolution of the brand and our vision for the future, in the luxury home textiles product range.”
Incidentally, studies reveal that the Indian luxury market is worth over US$ 18 billion, and growing at over 30 per cent year-on-year.
Meanwhile, the company has chalked out a roadmap to strengthen its presence in India. It plans to sell the Micro Cotton product range in 20,000 retail outlets by 2020, a tenfold increase from its present network of 2,000, through retail partners and modern trade outlets.
“We expect our sales revenue to touch Rs 200 crore by 2020,” Krishna said.
Sharadha Terry products range include bath, hair and wash towels, sports towel and all types of bed-linen, including bed sheets, comforters and blankets, among others.
Krishna said the company had roped in Bengaluru-based Happy McGarry Bowen to do the creative work and invested close to Rs 90 lakh so far, in developing its brand identity and logo. “We have to start work on brand promotion,” he said.
The company’s production facility at Mettupalayam was upgraded recently, which along with another facility at Annur, is engaged in making towels, while sheeting is made at Sharadha Terry’s sister concern in Perundurai in Tamil Nadu.