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Siyaram to launch Rs20 crore apparel unit at Daman

15
Dec '06
Siyaram Silk Mills will be launching a Rs20 crore state-of-the-art apparel facility at Union Territory of Daman for manufacturing its ready to wear sub-brand 'Siyaram's MSD' (Monday to Sunday Dressing).

This firm, which is a subsidiary of the Rs1,000 crore Siyaram Poddar Group, will start production from January next year. Facility is equipped with latest machinery and a modern R&D centre to design gents' readymade garments and accessories.

Company's widespread retail chain of 30,000 stores all over India will sell the sub-brand.

Managing Director Ramesh Poddar conveyed that plans are to make Siyaram's MSD the biggest local readymade brand for gents in coming five years, for which a fierce marketing strategy has been prepared.

He further stated that Siyaram will commence global retailing of its co-brand by April next year through launch of five apparel-fabric retail stores. Net profit of the firm has been Rs500 crores in 2006.


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