| Company is in talks with German men's apparels brand.
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| Ahmedabad-based Anjani Synthetics Ltd, a Rs 100 crore textile processing house, is venturing into retailing of garments and is in advanced stage of negotiations with a well-known German men’s apparels brand.
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| Refusing to divulge the name of the German company, Kailash Agarwal, chief executive officer of Anjani Synthetics said, “We will be the master franchisee for the German brand. The retail business will be handled by a special purpose vehicle (SPV) that will be set up under a 50:50 joint venture. In 2008-09, the company aims to set up around 10 exclusive branded outlets.”
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| Initially, both the companies would jointly invest around Rs 10 crore. The fund will be sourced internally.
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| The men’s apparels, targeted at young professionals, will be sourced from Germany. The company has been outsourcing yarn processing operations to other players like Chennai-based Motherland Textiles and Surate-based Shahlon Industries. However, it now intends to take up the operations itself.
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| “We are venturing into processing yarn ourselves for which we have ordered around 50 air-jet looms from Japan at a total cost of Rs 8-10 crore. We are also upgrading our fabric printing capacity by adding an advanced 16-colour rotary to the existing five rotaries,” said Agarwal.
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| Prominent of all its operations is exports of home linen to countries like Germany, Russia, Czech Republic, Sweden and Switzerland, which constitutes 70 per cent of the total home linen stitched and processed by the company.
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| Banking on its expansion plans, Anjani Synthetics is expecting a turnover of Rs 200 crore, including Rs 35-40 crore worth of exports, by the end of the financial year 2007-08. |
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