| Parafern eyes Rs 30 cr from merchandised garments biz | |
| BS Reporter / Chennai/ Hyderabad June 24, 2009, 0:38 IST | |
Parafern Garments, a Tirupur-based apparel manufacturer, is aiming at garnering first-year revenues of about Rs 30 crore from its corporate logo T-shirts and leisure wear brand – Corporate Identitee.
Unveiling its new merchandised garments brand here on Tuesday, Parafern Garments’ president Sylvester Saldanha said: “Corporate gifts and logo T-shirts together is a highly-organised over $40-billion market in the US. In India, we are taking the first infant steps.”
Currently catering to about 20 American labels including golf and corporate T-shirt brands Cutler and Buck, Pebble Beach, Tehama and Ping, and V-Soft, Deloitte and Air India in the domestic market, Parafern Garments’ business volumes grew to $30 million (about Rs 144 crore) in 2007.
At present, the company has a capacity to churn out 3 million pieces of merchandised garments a year.
“With plans to have a much wider product mix soon, we hope to cross the $10-million (Rs 48 crore) revenue mark from the brand in FY11,” Parafern chief executive officer Thirumoorti said.
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