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Pradip Overseas plans diversification into denim, apparels
29
Aug '11
Pradip Overseas Limited, a home textiles firm based in Ahmedabad, plans to diversify into apparels and denim segment. The company intends to spend about four billion rupees for expansion of its existing home textile capacity and to set up new apparels capacity.

Pradip Overseas Limited President, Mr. Amit Thakkar said that the company would award contracts for denim manufacturing, while garments would be manufactured at the Ahmedabad factory.

The company proposes to raise its present 140 million metres capacity, most of which is in home textiles, to around 180-190 million metres per annum towards close of the current fiscal, he added.

Mr. Thakkar further said that of the new 40 to 50 million metres capacity that the company proposes to add by close of current fiscal, capacity of around 14 million metres would be utilised for apparel manufacturing.

Meanwhile, the company has launched its personalized home furnishing brand 'MYCK' in the domestic market. MYCK stands for Malt-extract Yeast Chloramphenicol Ketoconazol, a combination of primary colours.

Speaking at the launch, Mr. Pradip Karia, Pradip Overseas Limited Chairman said that with the launch of the new brand MYCK, the company would be easily able to offer first-rate products at a price which is at par with that of local products.

The MYCK brand's offerings at present covers home furnishing items, which have good demand among target customers. However, the firm intends to launch more products under the brand in future.

Under the MYCK home furnishing collection, the brand presently offers 11 mainline products and four elite offerings in towels, duvets, bed linen, comforters and children prints.

Mr. Karia said that in order to bring all class of customers within the reach of the brand, MYCK merchandise would initially be put up for sale in more than 1,500 stores all through the country. Pradip Overseas looks forward to earn around two billion rupees in retail sales of the brand by close of the current fiscal, he added.

Fibre2fashion News Desk - India

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