Kitex Garments to invest USD1 million in US, eyeing sales growth

Kitex Garments is looking to invest USD 1 million in Kitex USA during fourth quarter of 2016-17. In an interview to CNBC-TV18 Sabu Jacob, Chairman & MD, Kitex Garments said the company is planning for a very aggressive capacity expansion over a period of three years.Sabu said the investments in the US come in the form of a design studio which will be a value addition and will boost product development and sales in the country. He also said that sales in Q2 were affected due to elections in the US and that he expects yearend sales figures to be better than last year.Watch video for more..