Mumbai based Maxwell Industries Limited(Ltd), the flagship comapany of VIP group, is planning to set up around 200 retail stores branded ‘Green Room -Ultimate Comfort Zone’ within two years.
"We will be opening around 200 Green Room retail outlets with approximate area of 500sq.ft. each, within the next two to three years, across the country, with all types of innerwear for both men and women and also kids wear and on the franchisee model", said Kapil J Pathare, director of Maxwell Industries.
Out of these 200 stores, around 12 stores would be in Kolkata with seven more in the eastern region outside Kolkata.
Green Room retail outlets recently opened in the western region.
The company is also planning to improve upon its kidswear section and introduce around 15 more categories and open around 300 stores across the country within the next 5 years.
The company was in talks with a French innerwear major for a joint venture (JV) and a marketing tie up for selling French products in India by November.
It could foray into the wellness segment by setting up a spa in Mumbai and was in talks for a possible tie up with some companies.
Currently, it had production capacity of around 1 lakh dozen pieces per month and was planning to scale it up to 1,50,000 dozen pieces per month. The turnover was Rs 205 crore last year and was aiming for Rs 225 crore this fiscal.
Green Room retail outlets were expected to contribute about 40 per cent of total sales, added Pathare. Maxwell claimed to enjoy about 25 per cent market share in the Rs 2500 crore organised innerwear market segment. The total innerwear market was estimated at Rs 6000 crore.
