We foresee unique opportunities for growth – Grasim Textiles
Grasim Bhiwani Textiles Limited, an Aditya Birla Group company, known for its Grasim and Graviera brands of suitings, plans to double its turnover from Rs 2.5 billion at present to Rs 5 billion by 2012. The company expects to attain the targets by increasing its market share in its fabrics division as well as by increasing turnover in the domestic as well as overseas markets, along with which it also intends to increase store count of its exclusive outlets.
Speaking exclusively to Fibre2fashion, Mr S.Krishnamoorthy, President, Grasim Bhiwani Textiles Ltd said, “It appears that coming 2-3 years will also be as challenging as the year
gone by (FY 2008-09). Grasim Bhiwani Textiles has two portfolios of business namely Domestic over the counter ready to stitch fabric market as well as the Brand & Retailers business both domestic as well as global.
“In Domestic Ready to Stitch menswear fabric market, we foresee unique opportunities for growth as consumers have started looking for better value for money proposition. So, we are witnessing the trend of buying fabric and getting it stitched again gaining popularity because of the higher perceived cost of readymade garments over the ready to stitch fabric and its tailoring
“To make best out of this scenario we have put-in aggressive plans by focusing on four key pillars of business:
a) Product Portfolio: Offering the best quality & innovative product basket at competitive prices to exceed the consumer expectations.
b) Partners in Success: Partnering with the right kind of trade channels which can support us in reaching out to consumers in the minimum possible time while delivering on the promise of best shelf space for our brands.
c) Processes: Putting in place the best industry practices and processes which would enable us to deliver on the brand promise.
d) People: Attracting and retaining the best people who can bring value to the system with customer orientation (both internal as well as external), which will go long way in achieving customer delight and gaining the confidence of channel partners that would work as insulator against the competition.
“Apart from focusing on the above mentioned 4 pillars of business, several new initiatives related to retail orientation and brand visibility is also lined up. Grasim plans to double the turnover of Retail business through its exclusive Show Rooms of Brand Grasim and I am sure that all these steps would help us in further strengthening our brands (Graviera and Grasim) and making them as the preferred choice of the customers as well the consumers.
“Regarding Brand & Retail business, GBTL will aggressively pursue value added fabric sales in blends with Stretch and other fibres apart from main stream fibres of polyester and viscose. We will also pursue FSP (Full Service Provider) to enhance the valuefor supply to both Indian and global brands. That is, we will offer not only fabric but also Garments to complete the value chain through FSP route. Focus on market expansion for supply of PV & blended fabrics will be there from current US, UK, Latin America, ANZ markets to new ones in EU, Japan, Russia, and Africa etc and also target the untapped women's wear market by thrusting on new product developments in stretch blends etc”.