Mumbai-based Maxwell Industries Ltd., that manufactures men's and women's inner wear and lingerie, is set to foray in Gujarat with its exclusive retail store 'Inners' soon. The company, known for its flagship brand 'VIP', will set up its exclusive inner wear store in Ahmedabad within next 3-4 months.
"We will have at least 8-10 such stores in Gujarat across major cities like Ahmedabad, Vadodara, Surat and Rajkot. While we have identified some of the prime locations in these cities, we are negotiating rental values before taking a call," said Sunil Pathare, vice chairman and managing director of Maxwell Industries. Recently, Maxwell Industries opened its first exclusive retail store 'Inners' the inner wear studio for all the inner-wear in New Mumbai.
Spread across a typical carpet area of 300-350 sq ft, the store will require an investment of roughly Rs 15-20 lakhs, said Pathare. Nationally, the company has set a target of opening 100 stores in next three years. "In Gujarat, we will look to target the entire family. Hence, the 'Inners' store will have all kinds of our brands including VIP, Frenchie, Feelings, Brat and the French brand Eminence. This apart, the store will also offer other accessories like socks and track pants," he added.
While the VIP, Frenchie and Feelings brands cater to men's and women's inner wear segment, Brat is meant exclusively for kids. Maxwell Industries is exploring both company-owned and franchised formats of opening up the retail stores. At 'Inners' stores, the price range will vary anywhere between Rs 70 and Rs 700 for various inner wear and accessories of brands owned or managed by Maxwell Industries.
For the fiscal year 2011-12, Maxwell Industries pegged a turnover of roughly Rs 135 crore. However, the company expects to grow in double digits on the back of its retail store's launch across the country.
Sebi has dismissed matters that alleged delaying implementation of norms related to insider trading by wind turbine maker Suzlon Energy's two ...