Textile company Nahar Industrial Enterprises (NIEL) based in Ludhiana, part of the Rs 2,000 crore Nahar Group, plans investment of Rs814 crores in next two years to increase production and retailing.
Added to this, it is launching its subsidiary Nahar Retail to focus on India's expanding retail sector. This will comprise NIEL's garment production and retail enterprises and Cotton County brand of 2005.
Director Kamal Oswal informed that NIEL plans addition of 60 special franchise stores of Cotton County in coming three months to its current 110 stores. He said Nahar would have total 250 outlets by 2006, and was working on long term plans to set up 1,000 stores within March 2010.
He added that company wants retail business to fetch returns of Rs100 crore in 2006, which will possibly rise to Rs350 to Rs400 crore in 2007.
NIEL's expansion plans also include rise in production capacity. Company expects output of processed fabric to rise from 1,15,000 meters daily to 2,00,000 metres, while production of readymade garments will reach 4 million pieces per year by March 2008.