Home / Knowledge / News / Textiles / Alok Industries to close 45 non-profitable H&A outlets
Alok Industries to close 45 non-profitable H&A outlets
23
Aug '12
Mr. Sunil Khandewal
Mr. Sunil Khandewal
Alok Industries, India’s largest fully integrated textile company, is planning to close 45 non-profitable H&A retail outlets by next month.
 
After shutting down about 45 non-profitable stores by September, the company will keep a tab on the performance of its retail business under the ‘H&A’ banner, Alok’s Chief Financial Officer Sunil Khandewal said.
 
If the performance is found to be profitable, we will continue with the division, otherwise, we shall gradually wind it up, Mr. Khandewal added.
 
The H&A stores are value retail outlets, positioned as complete family stores for apparel, home textiles and accessories, offering quality textile products at affordable prices. 
 
At present, there are 190 exclusive brand outlets (EBOs) and about the same number of shop-in-shops.
 
Alok Industries registered a 49 percent year-on-year dip in its net profit during the quarter ended June 30. Its net profit declined from Rs. 590 million during first quarter of last fiscal to Rs. 301 million during the same quarter this fiscal.
 
However, net sales of the company surged by 48 percent during April-June period to Rs. 24.227 billion, as against net sales of Rs. 16.382 billion during the corresponding period of last year.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

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

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

news category


Related Categories:
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