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Indus Fila banks on booming apparel market for expansion

10
Jun '08
Getting ready to make the most of the booming apparel market in India as well as in Asia, Indus Fila, a Bangalore based textile manufacturer is pondering over a gigantic retail plan to exploit these potential markets.

The company also has another identity that positions it as one of the major suppliers to such popular apparel brands like Nautica, Lee and Wrangler.

Industrial sources informed Fibre2fashion that presently, Indus Fila has plans to set up some 30-40 retail outlets across India in a years time with the first one opening in Bangalore by September 2008.

On the whole, the company will come up with a total of 500 stores in India and some others in Asian countries over a period of 2 to 5 years initially investing about Rs2000 million.

The location for the first retail store in Bangalore has already been finalized along with a tie up with two franchises to speed up the work. These outlets will mainly serve the customers with its exclusive line of apparel, shoes and accessories for both men and women.

As of now the main objective of Indus Fila is to sell high quality goods at reasonable prices directed to demography of middle class buyers. Nearly 80 percent of the products to be sold in these retail outlets would be manufactured by the company itself.

Some of the ongoing venture engaging Indus Fila is the construction of a plant in Hindupur in Andhra Pradesh. The company has also inked a deal with Sangli-based textile company and has recently purchased a fabric division of Mysore-based Sri Laxmi Industries for expanding and enhancing its production capacities.

On an average the company churned a revenue of Rs5150 million this fiscal year, 40 percent of which came from exports. Its manufacturing unit in Bangalore is also contributing immensely to enlarging profit margins.

Fibre2fashion News Desk - India


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