India : Bombay Dyeing to focus on retail; stops textile production

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Bombay Dyeing to focus on retail; stops textile production

03
Dec '16

Courtesy: Bombay Dyeing

Bombay Dyeing, a Wadia group company, has decided to shift its focus on retailing home décor items and move out of the textile manufacturing business. It will be investing Rs 100 crore in its retailing business over the next 3-4 years and is looking at increasing its turnover from the retail business by more than 3 times the current revenue of 305.7 crore.

The company shut its textile manufacturing plants over the last two years and began sourcing its products on franchise basis. It has partnered with 10 large manufacturing companies and a number of small manufacturing firms to meet its annual output requirements, according to media reports.

Bombay Dyeing plans to open about 500 franchise stores across India in by 2020, with at least one store in every small city. The company is also likely to introduce two-three products every year for strengthening its presence in the home furnishings market.

Bombay Dyeing is a 137 year-old company that was established in 1879 by Nowrosjee Wadia. It sells products such as towels, linens, home furnishings, kids wear, leisure clothing and more. (KD)

Fibre2Fashion News Desk – India

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