Sree Padmini Predicts Silk Export Boom
July 6, 2004
BANGALORE, India—Sree Padmini Silk Industries executives expect silk exports to soar over the next five years due to an aggressive marketing campaign and piquing interest from U.S. and German customers and the worldwide hotel industry, said K. Premenath, principal and managing director.
In five years, we expect to double our sales to $20 million annually looking for new customers who can buy in bulk, Premenath said.
While domestic India is the 26-year-old company's largest consumer of silk, orders from hoteliers and Sree's second and third best markets, the U.S. and Germany, respectively, are picking up.
"The Germans are…showing renewed interest in purchasing silk fabrics after being out of the market for almost seven years," Premenath said. "Many hotels like the Hilton in Hanoi, Vietnam have purchased Sree Padmini silk for their suites. We're seeing more and more orders from the hotel industry, especially in Las Vegas."
Premanath said Décor de Paris in Los Angeles, Kravet Fabrics, Brunschwig & Fils and Pottery Barn are Sree's most important U.S. customers.
Sree Padmini exports to Turkey, South Korea, Hong Kong, Taiwan and Australia, and Premenath said he plans to hire sales agents in the U.S., Middle East, Spain, Portugal, Germany and Benelux. The firm exhibits at top exhibitions such as Proposte, Heimtextil and TIP.
Premanath said Sree Padmini silks boast better a better feel, colorfastness and design than Chinese silks.
"We buy our Dupioni and Mulberry silk yarn in China, where there are really only a few good suppliers. We also buy silk in Brazil. The water in China is different than the water in India. We feel that our fabrics have a superior feel to what can be produced in China due to the special quality of Indian water that is used in making the yarn."
Because of the intense sunlight in Turkey, South Korea, Hong Kong, Taiwan and Australia, importers there buy Sree Padmini silks for its supreme colorfastness, Premanath said.
Sree Padmini specializes in silk taffeta and Dupions in solids, stripes and checks, and carries a large inventory of designs inspired by nature. This spring, the firm introduced a collection of 24 sheer silk curtain patterns in organza, taffeta and Dupions available in 54-inch or 60-inch widths in six colors.
The minimum order at Sree Padmini is 500 yards per color in its middle- to upper-end collections. The company has three in-house designers, two Nedgraphics CAD stations, 70 power looms, 250 handlooms and Sulzers capable of producing 27-inch repeats.
Sree Padmini makes all materials woven to order, and delivers in eight to ten weeks. The company sells 40 percent in silk upholstery, 40 percent in bedding and made-ups and 20 percent in apparel and miscellaneous applications. Premenath said he wants to increase sales to furniture manufacturers.
In five years, we expect to double our sales to $20 million annually looking for new customers who can buy in bulk, Premenath said.
While domestic India is the 26-year-old company's largest consumer of silk, orders from hoteliers and Sree's second and third best markets, the U.S. and Germany, respectively, are picking up.
"The Germans are…showing renewed interest in purchasing silk fabrics after being out of the market for almost seven years," Premenath said. "Many hotels like the Hilton in Hanoi, Vietnam have purchased Sree Padmini silk for their suites. We're seeing more and more orders from the hotel industry, especially in Las Vegas."
Premanath said Décor de Paris in Los Angeles, Kravet Fabrics, Brunschwig & Fils and Pottery Barn are Sree's most important U.S. customers.
Sree Padmini exports to Turkey, South Korea, Hong Kong, Taiwan and Australia, and Premenath said he plans to hire sales agents in the U.S., Middle East, Spain, Portugal, Germany and Benelux. The firm exhibits at top exhibitions such as Proposte, Heimtextil and TIP.
Premanath said Sree Padmini silks boast better a better feel, colorfastness and design than Chinese silks.
"We buy our Dupioni and Mulberry silk yarn in China, where there are really only a few good suppliers. We also buy silk in Brazil. The water in China is different than the water in India. We feel that our fabrics have a superior feel to what can be produced in China due to the special quality of Indian water that is used in making the yarn."
Because of the intense sunlight in Turkey, South Korea, Hong Kong, Taiwan and Australia, importers there buy Sree Padmini silks for its supreme colorfastness, Premanath said.
Sree Padmini specializes in silk taffeta and Dupions in solids, stripes and checks, and carries a large inventory of designs inspired by nature. This spring, the firm introduced a collection of 24 sheer silk curtain patterns in organza, taffeta and Dupions available in 54-inch or 60-inch widths in six colors.
The minimum order at Sree Padmini is 500 yards per color in its middle- to upper-end collections. The company has three in-house designers, two Nedgraphics CAD stations, 70 power looms, 250 handlooms and Sulzers capable of producing 27-inch repeats.
Sree Padmini makes all materials woven to order, and delivers in eight to ten weeks. The company sells 40 percent in silk upholstery, 40 percent in bedding and made-ups and 20 percent in apparel and miscellaneous applications. Premenath said he wants to increase sales to furniture manufacturers.
