Supreme Yarns sets its eye on retail venture in India
Ludhiana-based yarn-manufacturing firm, Supreme Yarns Ltd, having a turnover of Rs130 crore, is planning to venture into retail market in about a year's time with its own brand of ready wear garments. The company is planning to set up knitting facility in its existing unit at Ludhiana with an installed capacity of 30,000 knitwear garments per day with a possibility of raising weaving capacity to include woven garments like shirts and trousers along with t-shirts and tracksuits. "We are planning to enter the retail market of readymade garments with our own brand of clothing within a year’s time. The future of the Indian textiles industry is in value addition and that’s what we are trying to tap. Textiles companies which have value addition facilities like manufacturing of fabric, dying, knitting and weaving will always have an upper hand on the companies which limit themselves to only yarn manufacturing," Sanjay Gupta, Managing Director of Supreme Yarn."Initially we will start with five or six stores in the northern part of the country. After that we will monitor the market and will carry out a survey. We will spread our stores into the rest of India depending on the market situation. But one thing is clear that we will enter the retail market soon," Gupta said. The company intends to make t-shirts, track suits, shirts and trousers. For this purpose company will have to add weaving facility to its existing and upcoming facility of yarn manufacturing, dying and knitting as shirts and trousers are manufactured from woven textiles.
No comments:
Post a Comment