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Liverpool Retail buys stake in Nepal-based textile firm

22
Sep '10
Mr Kailash Gupta
Liverpool Retail, an Ahmedabad-based apparel retailer has attained a 33 percent stake for around Rs 200 million in Momento Apparels; a Nepal based textiles manufacturing company, in order to backward integrate its operations. Liverpool Retail has two brands in it stable; Liverpool and Barcelona.

Currently, Liverpool Retail is present in 200 cities in India, out of which 100 outlets are in Gujarat. The rest of the stores are spread across states of Rajasthan, Madhya Pradesh and Uttar Pradesh. It also plans to focus on other states like Kerala, Karnataka Tamil Nadu, Andhra Pradesh, and Maharashtra, for which it plans to offload 25 percent stake in the company to raise Rs 1.5 billion, through an IPO.

In an exclusive interview with Fibre2fashion, Managing Director of Liverpool Retail, Mr Kailash Gupta shared his vision on the rationale behind the acquisition, by saying, “Usually, we buy fabrics from many different countries and when we import these fabrics, we have to pay high import duties. India has a treaty with Nepal under which the imported fabrics do not attract any duty, along with which the quality of products rolled out by Momento Apparels Pvt. Ltd., is very good, so the rationale behind the acquisition is, we can cut down on our cost and get good quality”.

Commenting on the current situation in the Indian apparel retail scenario, he said, “The market is faring 3-folds.The per capita requirement is increasing day by day. In previous times, consumers used to wear only two pairs of clothes in a day, but now they wear workwear in the day, casuals in the evenings and again nightwear for the nights.

“Overall requirement is increasing in both, un-organised and branded market segments and while in previous years, people were attracted by imported clothes, but now, we are able to deliver high-quality of fabrics and clothing, which has increased demand for Indian-made products amongst Indian consumers, leading to a growth in the Indian retail market”.

While sharing his expansion plans, he said, “We are planning for expansion in a big manner. We are coming up with 50 family stores, each having an area of 5000 sq feet and above in a span of one year. We are targeting the tier II and tier III cities and would be introducing more varieties.

“We are basically in to formals and casuals, along with kidswear and other segments but we need more time to fully establish ourselves, as consumers are still not aware of our offerings, along with which, we are also planning a full-fledged e-commerce online portal in the next 5-6 months”, he concluded by saying.

Fibre2fashion News Desk - India


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