NSL Textiles, part of the Rs 1,500-crore group that owns Nuziveedu Seeds Ltd, has set up a textile processing facility at Chandolu near Guntur with an investment of Rs 300 crore. The company plans to launch its own men's apparel brand 'Constello' around Diwali.
The new unit, which will be inaugurated on September 6, is the group's sixth textile factory, and has a capacity of 120,000 metres of fabric per day. It includes a garment factory with a capacity of 6,000 shirts a day, taking the company's total garment capacity to 16,000 pieces a day.
Ajit Mantagani, chief executive officer, NSL Textiles, said “the plant's output would be doubled in a year or two, with an investment of Rs 200-300 crore in the next 12-18 months.”
The group has so far invested Rs 1,200 crore in its textile business, he said, adding it would focus on the domestic market initially, with exports to Europe and other high-value markets to be ramped up later.
It was also exploring tie-ups with garment-makers in Bangladesh, where fabric sourced from NSL could be turned into garments for sale in domestic or export markets.
Myneni Giridhar, vice chairman, NSL Textiles, said the Constello brand would cater to the fashion-conscious segment in the 25-40 age group.
Mantagani said the company would begin with eleven Constello outlets and expand to 750 stores in five years, covering all towns with a population above 50,000. “The Indian shirt market is worth Rs 15,000 crore, of which shirts priced at Rs 1,000 and above constitute only 5-8 per cent,” he said.
