Nandan Exim to introduce its own denim brand

Nandan Exim Limited, a group company of the Rs 600-crore Chiripal Group, will introduce its brand in finished product of denim. With initial investment of Rs 320 crore in stitching unit in Ahmedabad, Nandan Exim Limited will launch its denim brand in international and domestic market, informed Ved Prakash Chiripal, chairman of Chiripal Group of companies.

"The name of the brand is not to be disclosed but it would be under the umbrella of Chiripal Group," said Chiripal.

According to Chiripal, currently company is producing 10 million meters every month, by January it will rise to 20 million and from April Nandan Exim will start producing 30 million meter per month.

"Order is already been placed in domestic as well as international market. Denim will be exported around 50 per cent of total after a few months once production picks up," said Chiripal.

Very soon company will hire designers and has already installed 200 stitching machines in outskirts of Ahmedabad. "Once the sample stage is clear our brand will hit the showrooms of all big cities across the country," said Chiripal.

Nandan Exim is a company of Rs 150 crore and by next financial year it will be of Rs 400 crore, he informed. "As cotton produce is very good, Ahmedabad would be hub for denim as well as wider width bed sheets across the world," said Chiripal.

Talking about its processing unit, he said that Chiripal Group has installed two processing units for wider width bed sheets. "Now our capacity of processing wider width bed sheets is around 60,000 meter per month," said Chiripal adding that company also output bottom weight (cotton fabrics) of 50,000 meter per month.

Once the production increases to 40 million meters per month, "Our market share would be around 10 per cent in denim finished products," said Chiripal. He also said that right now company is focusing more on denim for few months. "Currently marketing strategies are not papers," added Chiripal.

"Groups turnover is around Rs 600 crore and will rise to Rs 1,000 crore by next financial year," he said. He also said that out of four subsidiaries of the group, two will merge into one. "Shanti and Chiripal division will merge and currently it is Rs 350 crore companies and will rise to Rs 600 crore by next financial year," claimed Chiripal.