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Alok to expand its stores network to 100

03
Feb '07
Alok Industries is set to expand its `homes and apparels` store strength to 100 by March 2008. The current strength of stores is nine.

Grabal Alok Impex, part of the Alok group, is proposing to increase its stake in UK based retail company Hamsard 2353 (Hamsard), from present 26 percent to 75 percent for a consideration of 10 million pounds.

The company wants to make Asia, the main hub of sourcing for Hamsard, Grabal Alok Director Dilip Jiwrajka said. Grabal Alok would source 85% of Hamsard products from India, China and Bangladesh, he informed.

At present, Hamsard sources 85% of its products from the UK. ``We have offices in Bangladesh and Sri Lanka. Soon we will open office in China.`` added Jiwrajka.

Speaking on its acquisition of Mileta International by Alok Industries, Jiwrajka said ``Our association with Mileta is a win-win for both of us. We will get designs and know-how from them. Mileta can leverage on the cost advantage from our manufacturing. In fact, we want to achieve a production target of 40 million Handkerchief pieces within next two years.``

He said the company would launch an international home textile brand in the country in February and that would be a licensee agreement.

According to Jiwrajka, the companies cannot leverage on retailing without proper back-end.

``We will strengthen our back-end before full-fledged entry into retailing. Presently ourplan is to supply fabrics and apparels, either to the private labels or to our own brands and big international retailers. Already we are vendors to Wal-mart, JC Penny, Marks & Spencer, GAP.`` said Jiwrajka.



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