Perennials, a US carpet-manufacturing firm that entered India in 2018, recently inaugurated its plant at Savli in Vadodara, Gujarat. Carpets from this plant will be exported to the United States and Europenow, but may be sold in the domestic market in future. The company has employed 50 workers, most of whom are experts in hand woven rugs industry.
The company will invest $10-12 mn in this plant for the first three years. The unit is spread over 14,000 sqr ft and the company has plans to expand that to 60,000 sqr feet, according to a report. The number of employees will rise to around 350 in the next quarter, according to Amol Biniwale, Managing Director, Perennials India. The firm plans to take its employee strength to 500 over the next three years.