Grasim Bhiwani Textiles Limited, an Aditya Birla Group firm, known for its Grasim and Graviera brands of suitings, plans to double its turnover from Rs 250 crore at present to Rs 500 crore by the end of 2012.
The company expects the surge in turnover to come on the back of the growing demand for fabrics both in the domestic as well as export markets. The apparel major is also looking to ramp up its network of exclusive company showrooms in the country to meet the projected sales target.
Grasim Textiles, which has 65 exclusive company showrooms within the country, plans to take the figure to 100 by the end of this year.
“We are eyeing a turnover of Rs 500 crore by the end of 2012 as against our current turnover of Rs 250 crore. Grasim has 65 exclusive showrooms in the country and we intend to take it to 100 by the year-end”, Rahul Jhamb, national head (retail), Grasim Bhiwani Textiles Limited told reporters here at the inauguration of the first exclusive showroom of Grasim in the city.
The company showroom was inaugurated by Dilip Tirkey, a former India hockey captain.
Orissa accounts for five per cent of the company's total turnover. The company is exploring the possibilities of setting up two to three additional exclusive showrooms in the state, including one in Cuttack.
Asked on the impact of the economic recession on the fabric business in the country, he said, “The fabric sector has not been impacted by the meltdown though exports to European countries have been affected to some extent. People have not cut spending on apparel and we expect the demand for branded fabrics to remain buoyant.”
The company spends Rs 10-12 crore every year on brand building exercise of Grasim, a Rs 90 crore brand. It has no plans to cut its brand budget despite the slowdown.
Grasim, which has been exporting fabrics mainly to Europe, is now exploring new markets like Sri Lanka, Australia and West Asia. It is looking to strengthen its presence further in the domestic market.
“We are focusing more on the domestic market as exports to Europe, our major export market has been hit by the economic slowdown. To strengthen our presence in the domestic market, we are rolling out exclusive company showrooms across the country”, informed Jhamb.
Grasim has so far opened eight exclusive company showrooms in the eastern region including one in Bhubaneswar.
Spread over 600 sq ft, the Grasim exclusive showroom in the city would showcase the latest collections in suitings and shirtings.