| The company is tapping the US and European market for its export growth, and is also scouting for acquisitions in the international market. |
| Sunil Pathare, director, Maxwell Industries, said the company is actively thinking of diversifying the operations to scale up in the domestic market. |
| Refusing to elaborate on the diversification plans, he informed that the company aims to boost the exports business by supplying to the European and the US retail chains. |
| "The stagnancy in the European and the US markets has increased production costs, prompting companies to outsource manufacturing. Though the margins are currently under pressure, quality buyers are willing to pay and the international business is expected to drive volume." |
| Maxwell Industries estimates to register Rs 210 crore turnover in this financial year with exports revenues comprising Rs 10 crore. |
| The company has already introduced the flagship brand VIP in the West Asia, which contributes about Rs 7 crore to its kitty. |
| Pathare claimed that the brand has emerged stronger in the West Asia amongst the other Korean and Japanese labels. The company intends to tap the Kuwait and Saudi markets to increase its presence in the region. |
| The company expects to clock Rs 1,000 crore turnover in the next five years with VIP, which estimated to contribute Rs 450 crore to the kitty. |
| "We are also looking at acquiring international labels with high recall value and strong distribution network," he said. |
| Maxwell intends to introduce premium innerwear brands in the domestic market. It is close to signing a joint venture with an European lingerie brand. Currently, the US brand jockey has consolidated its position in the premium innerwear segment. |
| It is targeting smaller cities to open 250 Green Room, its exclusive retail stores, which would offer all the company brands under one roof. |
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