Home / Knowledge / News / Fashion / Siyaram to spend Rs 15 crore for 15 new Cadini stores
Siyaram to spend Rs 15 crore for 15 new Cadini stores
24
Jun '16
Siyaram Silk Mills plans to open around 15 Cadini stores at a cost of Rs 15 crore in the current fiscal. Siyaram had bought rights to manufacture and market Italian fashion brand Cadini last year.

“We had acquired the brand rights for Cadini last year and had launched the fabrics. Now with the launch of the readymade garments, our plan is to open 10-15 stores this year. The total capital expenditure that we are planning for the stores would be around Rs 15 crore,” Siyaram's Executive Director Gaurav Poddar told the Deccan Herald.

“Our aim is to have these stores on high streets and destination shopping malls of metro cities including Mumbai, Delhi, Pune, Bangalore, Chennai and Kolkata,” Poddar said, adding that initially, these stores will be company-owned and operated, and subsequently Cadini will offer outlets on the franchise model as well.

In 2015, India's menswear segment registered a retail value growth of 15 per cent with sales touching Rs 1.3 lakh crore. Founded in 1970, Cadini has presence across 40 countries. In pursuit of expanding its global footprint, Cadini had established its presence in India as part of the global venture of Siyaram's.

Poddar is confident that Cadini will add more revenue. “Last year, Cadini clocked revenues of Rs 45 crore. We are aiming for revenues of around Rs 125 crore in the current fiscal from Cadini,” Poddar said.

But for now, the company is not planning to add any new international brand to its portfolio and would instead focus on expanding its existing portfolio by adding more range, Poddar added. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 27th Mar 2017

Himatsingka to disinvest 100% stake in Italian subsidiary

The board of directors at Indian home textiles manufacturer and...

Courtesy: Flipkart

Apparel/Garments | On 27th Mar 2017

Flipkart bags $1bn funding at lower valuation

In a new round of funding, Flipkart, one of India's biggest ecommerce ...

Textiles | On 27th Mar 2017

CCI shows US cotton textiles at Intertextile Shanghai expo

The Cotton Council International (CCI), the global marketing arm of...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search