Magic to open 15 stores by '09

Chennai-based specialty clothing company, Magic Clothing Pvt Ltd, will be opening at least 15 stores in the country by fiscal 2007-08.

The company also plans to open a couple of stores in Sri Lanka and West Asia in near future.

Magic Clothing sells its luxury range of casual clothing under the brand 'Canary Blue'. Launched recently, Canary Blue stores have been opened in Delhi, Mumbai and Chennai. In the first year of its launch, the company is expecting a turnover of Rs 15 crore by 2007-08-end.

According to Ajay Chablani, Director-Marketing, Magic Clothing expects to grow to 45 stores by 2010 and is expecting its turnover to touch Rs 50 crore by then.

"We have just launched our brand Canary Blue in the country but we feel there is room of more such brands in the retail market. Therefore, we are expecting a turnover of Rs 50 crore by 2010 and will be setting up 50 stores at least by then across the country," said Chablani.

The company sources its raw material like linen fabric and cotton fabric from countries like Ireland, Japan and UK.

With a production capacity of 15,000 units per month, Magic Clothing churns out around 12,000 units per month currently. The clothes, in the luxury casual wear category, will be priced at around Rs 1,500 to Rs 2,500.

Chablani is hopeful that the brand would click since "branded garments form only 20 per cent of the total retail market". Meanwhile, Chablani added that the company would be opening at least four stores in Ahmedabad, Vadodara, Surat and Rajkot.

For promoting its brand and for opening new stores across the country, Magic Clothing is looking forward to an investment to the tune of Rs 20 crore for financial year 2007-08.