Royal Classic Group, a knitsear company headquartered at Tiruppur, proposes to enter the kidswear business next year with a plan to cover all the segments of garment production. The group is also mulling IPO.
Since its inception, Rs 220 crore group has been concentrating on backward and forward integration in line with its development strategy, said H Anand Aiyer, brand head for Classic Fashion.
With the acquisition of 'Smash' for Rs 20 crore from Apeego, a textile company in Mumbai, Royal Classic entered the innerwear segment, the largest among developing segments.
Speaking of the 'Smash,' Aiyer stated that it would emerge in a big way making its mark in the innerwear market rising at a pace of 20 percent.
"Last year the company focussed on backward integration to increase the production capacity in the area of cotton spinning, shirts, trousers and woven business," said Aiyer.
The company is concentrating on retail growth opening showrooms in South India. By the end of the year, company aims to start 20 exclusive retail stores at Rs 25 lakh investment per store.
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