Sharadha Terry receives Good Fashion Fund investment, plans new manufacturing unit
Sharadha Terry Products Private Limited has received a $1.75 million loan from the Fount-managed Good Fashion Fund to establish a new rug manufacturing unit in Metupalayam, Tamil Nadu. Known for its MicroCotton® range of premium bed and bath products, the company will use the funds to launch Sri Gugan Mills, focusing on sustainable bath and area rugs.
The new facility will feature advanced tufting machinery and is expected to produce up to 4 million square metres of rugs annually, Apparel Resources India reported. The unit will primarily manufacture dope dyed cotton and polyester rugs, with additional products using recycled fibres under development.
Sharadha Terry will also install a dedicated effluent treatment plant capable of recovering approximately 98% of wastewater, significantly reducing water usage and eliminating hazardous chemicals associated with conventional dyeing. The investment will position the company as one of India's few integrated, sustainable rug manufacturers with large-scale production capabilities, APN News reported.
More than 200 jobs for local men and women are expected to be created at the unit, which will be staffed by workers from the Metupalayam region. Sharadha Terry's managing director Vikram Krishna said the collaboration strengthens the business' commitment to community development and environmental responsibility. Bob Assenberg, fund director at the Good Fashion Fund, said the investment reflects the fund's aim to support lower-tier textile operations and promote sustainability within the home textiles sector.
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Sharadha Terry Products Private Limited has received a $1.75 million loan from the Fount-managed Good Fashion Fund to establish a new rug manufacturing unit in Metupalayam, Tamil Nadu. Known for its MicroCotton® range of premium bed and bath products, the company will use the funds to launch Sri Gugan Mills, focusing on sustainable bath and area rugs. The new facility will feature advanced tufting machinery and is expected to produce up to 4 million square metres of rugs annually, Apparel Resources India reported. The unit will primarily manufacture dope dyed cotton and polyester rugs, with additional products using recycled fibres under development. Sharadha Terry will also install a dedicated effluent treatment plant capable of recovering approximately 98% of wastewater, significantly reducing water usage and eliminating hazardous chemicals associated with conventional dyeing. The investment will position the company as one of India's few integrated, sustainable rug manufacturers with large-scale production capabilities, APN News reported. More than 200 jobs for local men and women are expected to be created at the unit, which will be staffed by workers from the Metupalayam region. Sharadha Terry's managing director Vikram Krishna said the collaboration strengthens the business' commitment to community development and environmental responsibility. Bob Assenberg, fund director at the Good Fashion Fund, said the investment reflects the fund's aim to support lower-tier textile operations and promote sustainability within the home textiles sector.
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