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TT Ltd to invest Rs 1.5bn for textile, garment units
16 Dec '11
3 min read
TT Limited, the New Delhi-based vertically integrated textile company that is into manufacturing of yarn, fabric, garments and accessories, is investing Rs. 1.5 billion towards establishing textile and garment units.
“We have a Rs. 1.5 billion expansion plan, which is ongoing. We are setting up a spinning plant in Gujarat at a cost of Rs. 1 billion. The plant will have state-of-the-art machinery in a fruitful automation to save labour as much as possible. We have just performed the foundation stone laying ceremony and the plant will be ready in another 12-15 months. We already have a spinning unit in Gujarat, and the new unit is being established adjacent to it at a place called Rajula, near Pipavav port,” Mr. Sanjay Jain, Joint Managing Director, TT Limited, informed fibre2fashion.
Briefing further, he said, “In addition, we are investing another Rs. 0.3 billion in our garments project at Avinashi, near Tirupur, where we already have a spinning mill. The machinery is on the way and the project will be completed in another 6 months time. There is also another Rs. 0.2 billion budget for non-woven project, which is yet to be finalized.”
Talking about the impact of these new units, he says, “Our spinning capacity would increase by another 25 percent, while our garment production capacity would double from the current 3 million pieces per annum to about 6 million pieces per annum.”
Mentioning the company's retail expansion plans, he says, “We will have retail expansion as well, but we are going slow on that. We are still experimenting on the retail model that we have adopted. We have about 20 exclusive brand outlets (EBOs), and we are still working and experimenting on the model before we go for a stronger roll-out.”
Revealing about the company's new product launches, he informs, “We are coming up with a lot of product extensions through our inner wear and casual wear ranges. In the garment segment, we are re-launching our men's premium wear range under the sub-brand 'Desire'. It will be launched in about a month's time with new products, new packaging and new styling. Through our sub-brand ranges, we seek to offer totally international styles and designing at Indian prices.”
Commenting on the domestic garment market, he says, “Our thermal wear sales have been very good last year. In fact, this year too, we have already sold out and there is shortage in the market.”
Finally, about TT Limited's exports, he says, “We export cotton, yarn and fabrics to about 35 countries across the world. We do not export garments. Our textiles exports got impacted severely from April 2011, even before the current EU crisis. However, we are now feeling better as already the worst is behind us.”
“We have a Rs. 1.5 billion expansion plan, which is ongoing. We are setting up a spinning plant in Gujarat at a cost of Rs. 1 billion. The plant will have state-of-the-art machinery in a fruitful automation to save labour as much as possible. We have just performed the foundation stone laying ceremony and the plant will be ready in another 12-15 months. We already have a spinning unit in Gujarat, and the new unit is being established adjacent to it at a place called Rajula, near Pipavav port,” Mr. Sanjay Jain, Joint Managing Director, TT Limited, informed fibre2fashion.
Briefing further, he said, “In addition, we are investing another Rs. 0.3 billion in our garments project at Avinashi, near Tirupur, where we already have a spinning mill. The machinery is on the way and the project will be completed in another 6 months time. There is also another Rs. 0.2 billion budget for non-woven project, which is yet to be finalized.”
Talking about the impact of these new units, he says, “Our spinning capacity would increase by another 25 percent, while our garment production capacity would double from the current 3 million pieces per annum to about 6 million pieces per annum.”
Mentioning the company's retail expansion plans, he says, “We will have retail expansion as well, but we are going slow on that. We are still experimenting on the retail model that we have adopted. We have about 20 exclusive brand outlets (EBOs), and we are still working and experimenting on the model before we go for a stronger roll-out.”
Revealing about the company's new product launches, he informs, “We are coming up with a lot of product extensions through our inner wear and casual wear ranges. In the garment segment, we are re-launching our men's premium wear range under the sub-brand 'Desire'. It will be launched in about a month's time with new products, new packaging and new styling. Through our sub-brand ranges, we seek to offer totally international styles and designing at Indian prices.”
Commenting on the domestic garment market, he says, “Our thermal wear sales have been very good last year. In fact, this year too, we have already sold out and there is shortage in the market.”
Finally, about TT Limited's exports, he says, “We export cotton, yarn and fabrics to about 35 countries across the world. We do not export garments. Our textiles exports got impacted severely from April 2011, even before the current EU crisis. However, we are now feeling better as already the worst is behind us.”
Fibre2fashion News Desk - India
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