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| NTC stores in for rebranding with Rosebys |
| Press Trust of India / New Delhi Jun 14, 2010, 20:34 IST |
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The rickety stores of the state-owned National Textile Corporation (NTC) will reshape into swanky retail shops with the help of British home decor major Rosebys.
The NTC stores, mostly in prime locations in major cities, will be rebranded into Rosebys@NTC, under an agreement announced today to revive the government company and the English lifestyle firm.
Upbeat on its tie-up with NTC which has 93 stores in all the major cities, Rosebys unveiled a Rs 100-crore plan, Rosebys Interiors India Managing Director Nikhil Sen said here today.
Opening the first Rosebys@NTC store at the upmarket Khan Market in the Capital, he said: "we will invest Rs 100 crore in the next five years on developing Rosebys@NTC, to introduce new brands, product designs and other initiatives."
Four other NTC stores in Kolkata, Chennai and Hyderabad would be rechristened, NTC Chairman K Ramachandran Pillai said. "Of the total 93 NTC stores, initially five are being rebranded. After customer response, we may expand the partnership with Rosebys to other stores," Pillai said.
Established in 1968 by the government, NTC had remained sick for over a decade. Under its revival plan, 18 mills have been modernised. Though its large number of retail stores are in the prime market areas of major cities, they are almost dead now.
Sen said Rosebys would be responsible for retailing while the cloth-making expertise of NTC would be leveraged by the partnership. He said Rosebys@NTC has also received a licence for Commonwealth Games merchandise. "We will meet the fabric requirement of the Commonwealth merchandise," he said.
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