Kolkata-based hosiery major Rupa & Co Ltd is setting up a plant in Tirupur, primarily to cater to the international market, said company chairman PR Agarwal. The group will invest around Rs 10 crore at the new plant in the first phase. |
"The new plant with a production capacity of around 50,000 pieces per day will be complete within the next six months. The unit will mainly focus the international market," said Agarwal, while talking to Business Standard. |
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Rupa aims to double exports to around Rs 15 crore by 2005-06 from last year's Rs 7.5 crore. It ships goods mainly to west Asia, France, Italy and Canada. |
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The company has set a growth target of 20 per cent from its turnover of Rs 210 crore in 2004-05, Agarwal said. It will spend Rs 20 crore on brand promotion activities this fiscal, up from last year's figure of Rs 18 crore. |
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Simultaneously, Rupa aims to strengthen its customer base in states like Uttar Pradesh. "We have decided to increase the distributor number by around 20 per cent from present figure of 600," added Agarwal. |
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West Bengal hosiery exports were far behind exports from centres like Tirupur, admitted Agarwal. "Tirupur exported hosiery products worth Rs 7,000 crore in 2004-05. The corresponding figure for West Bengal was below Rs 500 crore," he said. |
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Bihar was at present the largest market for Rupa produces followed by West Bengal. "We are the leaders in the market," he claimed. |
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In another new initiative, Rupa will be increasing its range in the female wear segment soon. The firm is also conducting study to identify segments with good potential. |
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"Rupa teams are conducting a study to identify the segment in which to enhance focus," said Agarwal. |
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Rupa's product portfolio includes innerwear, casual wear and classic winter wear for men, women and children. |
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Rupa has manufacturing units at Kolkata, New Delhi and Tirupur. |
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