SPUN by Welspun recognized as one of the Top 100 Corporate-Ready Social Enterprises, globally

SPUN by Welspun India Limited, has recently been named as one of the Top 100 Corporate-Ready Social Enterprises, in a list by World Economic Forum's COVID Response Alliance for Social Entrepreneurs. The recognition was won on the back of SPUN's various community-centric initiatives, such as employing over 2,200 women in the Kutch and Bhuj areas, as well as its focus on using upcycled textile waste and natural fibers to create handcrafted home décor products that reflect India's rich cultural heritage.

Built on the four fundamental pillars of Sustainability, Passion, Understanding and Nurturing, SPUN was launched in 2009 as a medium to empower and provide livelihood to women severely affected by the 2001 Gujarat earthquake. A unique brand that ensures the upcycling of textile waste instead of its accumulation in landfills, SPUN has helped local communities spin a new future, providing women with opportunities that have increased their incomes while empowering them, personally and professionally. The brand's products are created by women known for their intricate hand embroidery and striking handicrafts, with an aim of reinventing traditional patterns - an impeccable synergy between the traditional craft and modern designs. The product line of SPUN diversifies into categories like Cushions, Rugs, Gift Accessories and Bedding Quilts, inspired by Global Art forms. Thus far, the brand has established 8 vocational centers across Kutch, with more than 2,200 trained women. Through consistent efforts, it has impacted the lives of 8,860 people across the region. The SPUN enterprise is in line with Welspun's aim to become the global leader in the ESG framework with sustainability embedded in every realm of its operations.

Speaking on this, Ms. Dipali Goenka, Jt. MD & CEO, Welspun India Ltd said, "Welspun India believes in an empowered, sustainable, and inclusive India and has been unrelentingly working towards contributing towards this vision. Empowering local communities, the very cornerstone of our society, is an important part of achieving this goal and will be critical to the sustainable business model that will define the modern enterprise. I am delighted that SPUN by Welspun has been named in the WEF list of 100 Corporate-Ready ventures, validating our robust ESG framework that cuts across brands and functions. Having worked closely with the incredible women at SPUN, who are setting a stellar example of how one can create a sustainable and empowering future, I am looking forward to the day that the Indian corporate ecosystem, as a whole, adopts ESG practices to make many more communities and businesses flourish and grow."

Shares of Welspun India Limited was last trading in BSE at Rs. 164.05 as compared to the previous close of Rs. 163.95. The total number of shares traded during the day was 346507 in over 4964 trades.

The stock hit an intraday high of Rs. 167.50 and intraday low of 163.10. The net turnover during the day was Rs. 57119202.00.

Source : Equity Bulls

Keywords

WelspunIndiaLimited INE192B01031 WELSPUNIND Textiles WEF SPUN CovidResponseAlliance SocialEntrepreneurs