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NTC to launch new range of branded apparels
14 Apr '11
2 min read
After its financial revival, through the sale of surplus land, state-run National Textiles Corporation (NTC), now proposes to expand its core business through introduction of a new range of branded apparels.
The Corporation is paving ahead on this front and intends to greatly boost the brand value of the company by close of the current fiscal.
Through this expansion, the company means to diversify itself from being a single-product organization producing only yarn to a multi-product organization engaging itself in spinning, weaving, processing and garmenting.
The company proposes to carry out the garment production work at two of its integrated units, one each in Maharashtra's Amravati and Karnataka's Hassan, and has spent Rs. 600 million and Rs. 2.6 billion for establishing garmenting units in Amravati and Hassan, respectively.
Presently, the Corporation sells shirts under the brand name of 'Entyce' and home furnishings under the brand name 'Rassa', in the local market through its retail outlets.
The Corporation intends to refurbish its non-profit making showrooms to give them a standardised look. The company now operates 92 showrooms across India, of which only 32 generate profits.
NTC plans to invite tenders from experts to revamp these outlets and for marketing of their products.
As assessed on April 4, the company's total income for the financial year 2010-11 rose around four-times to Rs. 27.41 billion, with sale proceeds of mill plots in Ahmedabad and Mumbai contributing a major part of this.
The Corporation during 2010-11 raised Rs. 20.11 billion through sale of land of six non-operational mills, aggregating to 50 acres.
The Corporation is paving ahead on this front and intends to greatly boost the brand value of the company by close of the current fiscal.
Through this expansion, the company means to diversify itself from being a single-product organization producing only yarn to a multi-product organization engaging itself in spinning, weaving, processing and garmenting.
The company proposes to carry out the garment production work at two of its integrated units, one each in Maharashtra's Amravati and Karnataka's Hassan, and has spent Rs. 600 million and Rs. 2.6 billion for establishing garmenting units in Amravati and Hassan, respectively.
Presently, the Corporation sells shirts under the brand name of 'Entyce' and home furnishings under the brand name 'Rassa', in the local market through its retail outlets.
The Corporation intends to refurbish its non-profit making showrooms to give them a standardised look. The company now operates 92 showrooms across India, of which only 32 generate profits.
NTC plans to invite tenders from experts to revamp these outlets and for marketing of their products.
As assessed on April 4, the company's total income for the financial year 2010-11 rose around four-times to Rs. 27.41 billion, with sale proceeds of mill plots in Ahmedabad and Mumbai contributing a major part of this.
The Corporation during 2010-11 raised Rs. 20.11 billion through sale of land of six non-operational mills, aggregating to 50 acres.
Fibre2fashion News Desk - India
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