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“We will maintain our dominant position”– CEO, Portico India

22
Oct '08
Mr Rajiv Merchant, CEO Portico India.
Sensing the huge opportunity and growth potential in the Indian domestic home textile market, the Creative Group made timely forays for establishing its own brands and distribution network.

Leveraging its manufacturing strengths and business experience, Creative has established Portico as one of India's largest selling and most respected bed and bath brand, available across the country.

With growing influence, the division is in the process of launching more brands and sub-brands to cover wider market segments.

The Creative Group is one of India's largest professionally managed "Apparel and Home Furnishing Export Group" with a turnover of over Rs.350 Crores. The Group currently employs over 8000 people with over 24 plants and has employed some of the best professionals in the country.

In addition to the prestigious ISO 9002 certification, the Creative Group has won several prestigious awards for remarkable performance from The Clothing Manufacturers Association of India, Apparel Export Promotion Council and the Government of India.

To understand the intricacies and to get a better idea of the current scenario of the growing home textiles segment in India, fibre2fashion spoke to Mr Rajiv Merchant, CEO of Portico India.

Mr Merchant said “Home textile is one of the under-explored product categories in India and provides good growth opportunity. Till about 5 years back, home textile was bought like a commodity. The organised retail revolution and favorable macro factors in India and with the introduction of fashion brands like Portico, growth in home textile category moved on to a fast track with the only constraint being the high rental cost for real estate”.

“Portico developed its business by developing cost-effective 160 shop-in-shop corners across India and is a leader in premium segment as well has a category leadership in few product categories like bedding set, kids merchandise etc and is a market leader in organized retail channel. We target to sell Rs. 1000 million (at retail prices) worth of merchandise during the financial year 2008-09”, he added.

Mr Merchant was categorical when he said “As one of the leading players of the category in the country, we will maintain our dominant position and would introduce cutting edge innovative products to maintain our leadership position. In addition, with easing real estate cost, we would develop franchisee shops to reach more number of customers and grow our business and expect to garner a healthy high double digit growth for a few more years”.

Leaving us he had a word of caution for home textile exporters. “Exporters who are highly dependent on US markets need to be cautious”, he underlined by saying.

Fibre2fashion News Desk - India


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