Indorama Industries Ltd. (IIL), part of Indorama Corporation, Singapore, has launched the new revolutionary branded spandex product INVIYA®, setting new standard for innovation. It is now the only company in India to manufacture spandex filament. INVIYA®, the new freedom fibre, is a hi-tech spandex filament that will revolutionise the fashion industry in India. INVIYA® was launched at the All India Textile Conference held recently in New Delhi by Indorama Industries. Indorama is synonymous with pioneering advancements in manufacturing of polymers for applications in textile and apparel production. With the launch of the spandex filament, the company will bring forth the advantages of this innovative technology for the first time in the country.
The revolutionary product is to be produced at the plant in Baddi, Himachal Pradesh, a state-of-the-art production facility equipped with latest technology for the clothing and textiles, lifestyle and medical and surgical industries.
Indorama Corporation plans to invest up to Rs. 1,000 crores within three years in India to produce the spandex fibre which has various applications like stretch denims and sportswear. The company has lined up a three-phase investment plan, of which the first phase is already completed at an investment of Rs. 400 crores at Baddi. The new plant will start commercial production by March.
Mr. Sri Prakash Lohia, Chairman of Indorama Corporation, says: ìAs a frontrunner in introducing new technology in the market, Indorama is dedicated to expanding its product portfolio of high value and performance textiles by providing consumers with the world-class spandex filament closer to home. We, at Indorama, are dedicated to establishing INVIYA® as the best solution for industries in the textile and apparel sector in the coming years.
INVIYA® is specifically conceived for applications expanding across stretch denim, sportswear, active wear, bottom wear, intimate garments, innerwear, socks, and surgical & medical applications.
According to recent studies, the spandex usage in India is growing at 15-20 per cent per year as compared to worldís expected growth of 7-8 per cent per year. Direct consumption of bare spandex in the country currently stands around 6,000-7000 tons per annum, all of which is imported. In the light of the rapid growth in the organised retail segment and branded clothing market, it is a natural step for IIL to invest in INVIYA®.
Indorama Corporation is a global manufacturer of textile raw materials (premium spun yarns, polyester fibre / filament yarns, and woven fabrics), petrochemicals and medical / surgical gloves. Indoramaís current revenue is over $8 billion with its products being shipped to more than 90 countries across the world. It has more than 19,000 employees worldwide. The company is the largest polyester producer in the world and the second largest producer of polyolefins in Africa.
Mr. S.P. Lohia is the Chairman of the Board and Mr. Amit Lohia the Managing Director in the Indorama Corporation. Established as a spun-yarn manufacturing plant in 1976 in Indonesia, Indorama Corporation today is a leading Asian organization with 38 manufacturing facilities in more than 19 countries. It has won the Primaniyarta Award for Best Export Performance five times from the Government of Indonesia in the category of foreign investment.
INVIYA® will be commercially produced using the dry spun continuous polymerization technology and equipment from Italy, PRC and Japan. It is a zero waste discharge plant and will have a capacity of 15,000 tons per year in a phased manner, with current capacity being 5,000 tons per year.
INVIYA® stands for freedom of expression, freedom to be original, freedom of thoughts, and freedom from rigidity of conventional dressing. Its applications include, but are not limited to modern-day products such as stretch denim, sportswear, active wear, bottom wear, intimate garments, innerwear, socks and surgical & medical applications.
With INVIYA®, IIL will raise its stature to establishing itself as the global super-market of textile raw materials for the entire apparel and clothing requirements of premium brands worldwide.
In addition to other applications, INVIYA® will be a trusted brand in modern and contemporary clothing, as it will enhance products with the benefits of durability, stretch and recovery, natural look, breathability, functionality, wrinkle-free, shape, comfort and style. Designed for all men and women of all age groups, it comes in practical variants to provide an easy care for garments or personal products.
IIL has its strong emphasis on new product development and technical services to satisfy the working and functional requirements of various end users. It would provide marketing support to create global demand for fabrics produced using INVIYA® and also provide the hand-tag support to retailers.
The domestic customers of INVIYA® shall reap natural advantages of relief from currency fluctuations, as it is an import substitute product. It would provide effective longer shelf life to customers, due to domestic production, and ensure the in-time door delivery with an effective distribution network all the country.
According to recent research, Asia accounts for nearly 80 per cent of spandex output in which China accounts for nearly 70 per cent of the global spandex production. With the production of INVIYA® in India, its consumption in the country is bound to go up substantially, resulting in great value addition to the entire value supply chain in the textile industry thus enabling Indian companies to pitch for high value and higher margin orders from apparel retailers all over the globe.