| H Anand Aiyer, brand head for Classic Fashion said: "The group is working on it but the time frame has not been set." The 10-year old, Rs 220 crore company, has been focusing on backward as well as forward integration as part of expansion plans. |
| The company, in January this year, had acquired "Smash" for Rs 20 crore from Apeego, a Mumbai-based textile company. Through this, the company entered the innerwear segment, the largest growing segment. |
| "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. |
| This year, so far, the company has focussed on retail expansion by opening exclusive showrooms across south India. The company plans to open 20 exclusive retail stores by the year end with a Rs 25 lakh investment for each. |
| Next year the company plans to enter the west where it aims to open 5-6 exclusive showrooms with two in Pune, one each in Indore, Bhopal and Nagpur and two in Ahmedabad. |
| On the recently acquired "Smash" Aiyer said, "it is yet to come out in a big way but with the innerwear market growing at a pace of 20 per cent, it will find its place." |
| At present, exports contribute a major share of the company's revenues. |
| Out of the Rs 220 crore, Rs 100 crore comes from export of garments and Rs 100 crore comes from yarn export. |
| "At present, only Rs 20 crore comes from our domestic market operations but the domestic market has a greater role to play in our growth as it gives greater margins, compared to exports," said Aiyer. |
| The company, by next year aims to increase its domestic revenues from Rs 20 crore to Rs 35 crore in which Rs 25 crore will come from its Classic Polo brand and Rs 10 crore from its newly acquired innerwear brand "Smash". |
Top Section
Explore Business Standard