Hasbro mulls expansion

Hasbro Clothing Limited, which owns the fashion brands Genesis and Basics, has chalked out a Rs 25-crore expansion plan for its brands in the country.

The company is planning to increase the number of outlets from 31 to 55 in the next one year across the country. Plans are also afoot to increase the production capacity of its manufacturing plant at Chennai from half a million pieces per annum to 1. 5 million pieces a year in the next one year.

"An investment of Rs 25 crore is being planned to consolidate our presence in south India as well as establish a national presence which is essential for any growing brand, " said Suhail Sattar, director, Hasbro Clothing.

The company achieved 70 per cent growth this year and is expecting the turnover to go up from Rs 50 crore to Rs 100 crore in the next three years. Although the company has been exporting to Sri Lanka and the Gulf countries, it is eyeing the domestic market in a big way.

"Considering the tremendous potential of mini metros and even smaller towns, the company prefers to tap the potential in the domestic market itself by diversifying into newer product lines, " said Sattar.

Launching its 31st store in Ahmedabad, Sattar also talked of the company's plans for Gujarat. "Gujarat and especially Ahmedabad is a huge market for us in terms of premium clientele, which is why we plan to launch outlets in Vadodara, Surat and Rajkot in the coming few months," he said.

The company has tie-ups with various retail chains but intends to concentrate on developing its individual products. It is also working on five new projects, which would see the company come out with innovative product lines, added Sattar.