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RIL to source men's RTW for global apparel biggies
03 Sep '08
2 min read
Private label sourcing business for global retail chains and apparel brands is one of the bandwagons increasingly taken up by textile enterprises and the textile division of Reliance Industries (RIL) is no exception.
The company has come to identify this strategy to give a thrust to its future growth and has in the process, inked a slew of such deals to supply men's ready-to-wear (RTW) formal apparel, that includes, trousers, suits and jackets, in the US and the UK markets.
Reliance has already entered into talks with leading global brands who are also its fabric consumer clients. Mr Anand Parekh, RIL President, told the media, “We supply fabric to several international brands like Marks & Spencer and JC Penny. The bigger opportunity now lies in being their sourcing partner for RTW apparel.”
In fact, Reliance has also undertaken production of RTW apparels for sourcing business in Bangalore. Mr Parekh noted that “It is the sourcing business that will contribute to the export revenue of textiles business in the days to come. Currently, around 50 percent of our revenue is generated from exports”.
The company plans to increase its market share in the menswear segment within two years. Although Mr Parekh confirmed its present market share in the segment at 15 percent, he expressed confidence that its re-positioned Vimal brand would garner 35-40 percent share within a short period of time.
In the meanwhile, the women's RTW segment will also be explored to its fullest and strategies for the same are being undertaken for a streamlined implementation of programs. Moreover, expanding men's RTW segment through acquisition of more brands would also be considered as a back-up scheme.
RIL President further added saying that the company's male RTW portfolio includes formals in shirts; trousers, suits and jackets. It has three sub-brands namely - Vimal Red (mass market), Vimal White (premium range) and Vimal Black (super-premium range). “We might roll out exclusive stores for some of these sub-brands. Vimal is available in some 3,000-odd retail points,” said Mr Parekh
The company has come to identify this strategy to give a thrust to its future growth and has in the process, inked a slew of such deals to supply men's ready-to-wear (RTW) formal apparel, that includes, trousers, suits and jackets, in the US and the UK markets.
Reliance has already entered into talks with leading global brands who are also its fabric consumer clients. Mr Anand Parekh, RIL President, told the media, “We supply fabric to several international brands like Marks & Spencer and JC Penny. The bigger opportunity now lies in being their sourcing partner for RTW apparel.”
In fact, Reliance has also undertaken production of RTW apparels for sourcing business in Bangalore. Mr Parekh noted that “It is the sourcing business that will contribute to the export revenue of textiles business in the days to come. Currently, around 50 percent of our revenue is generated from exports”.
The company plans to increase its market share in the menswear segment within two years. Although Mr Parekh confirmed its present market share in the segment at 15 percent, he expressed confidence that its re-positioned Vimal brand would garner 35-40 percent share within a short period of time.
In the meanwhile, the women's RTW segment will also be explored to its fullest and strategies for the same are being undertaken for a streamlined implementation of programs. Moreover, expanding men's RTW segment through acquisition of more brands would also be considered as a back-up scheme.
RIL President further added saying that the company's male RTW portfolio includes formals in shirts; trousers, suits and jackets. It has three sub-brands namely - Vimal Red (mass market), Vimal White (premium range) and Vimal Black (super-premium range). “We might roll out exclusive stores for some of these sub-brands. Vimal is available in some 3,000-odd retail points,” said Mr Parekh
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