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Bombay Dyeing to launch new retail counters
06 Aug '11
2 min read
Wadia Group's flagship textile firm, Bombay Dyeing, which has been running in losses, has decided to launch new retail counters at an average of one-a-day all through the year to enhance its earnings.
Bombay Dyeing has for long been a manufacturing firm, but is now looking forward to shed that label and convert itself into a retail-focused firm.
The firm presently has 350 sales points, which includes company-owned exclusive outlets, multi-brand outlets and franchisee-run outlets. With retailing as the new focus, the company intends to launch 365 new sales point in the next 12 months.
The new flagship outlets will sell its high-quality and designer products alongside global brands. Presently, the firm owns 14 flagship outlets in India and has recently engaged a world-class designer to design towels and bed-sheets for it.
The company intends to launch bigger outlets, where it can put up its best quality products for sale and customise the same for a particular locality. The firm is even considering display of global brands in these outlets.
During the first quarter of the current fiscal 2011-12, the company made a net loss of Rs. 397.9 million, compared to a net loss of Rs. 306.1 million during the corresponding quarter in fiscal year 2010-11, thus increasing its net loss by almost 30 percent..
Bombay Dyeing's net sales too declined to Rs. 3.98 billion during the quarter ended June 30, 2011 compared to net sales of Rs. 4.18 billion achieved during the same period in the previous fiscal, registering a decline of nearly five percent.
Bombay Dyeing has for long been a manufacturing firm, but is now looking forward to shed that label and convert itself into a retail-focused firm.
The firm presently has 350 sales points, which includes company-owned exclusive outlets, multi-brand outlets and franchisee-run outlets. With retailing as the new focus, the company intends to launch 365 new sales point in the next 12 months.
The new flagship outlets will sell its high-quality and designer products alongside global brands. Presently, the firm owns 14 flagship outlets in India and has recently engaged a world-class designer to design towels and bed-sheets for it.
The company intends to launch bigger outlets, where it can put up its best quality products for sale and customise the same for a particular locality. The firm is even considering display of global brands in these outlets.
During the first quarter of the current fiscal 2011-12, the company made a net loss of Rs. 397.9 million, compared to a net loss of Rs. 306.1 million during the corresponding quarter in fiscal year 2010-11, thus increasing its net loss by almost 30 percent..
Bombay Dyeing's net sales too declined to Rs. 3.98 billion during the quarter ended June 30, 2011 compared to net sales of Rs. 4.18 billion achieved during the same period in the previous fiscal, registering a decline of nearly five percent.
Fibre2fashion News Desk - India
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