Ritspin Wearit Brand To Hit Stores Next Month

Cashing in on the growing demand for trendy women's garments in the country, Ritspin Synthetic (RSL), a joint venture company with Itochu of Japan, will launch its branded fashionwear with a top of the line brand called 'Wearit'.

Ritspin is in the early stage of negotiations with established retail chains of the country to market its products. "The brand will be launched on February 8, in Mumbai, and then taken forward to other cities Delhi, Ahmedabad, Bangalore," Manish Kumar, managing director, RSL, said.

Although Kumar was not forthcoming with the names where the 'Wearit' brand would be showcased, sources said RSL has had discussions with Pantaloon, Lifestyle, Shoppers' Stop to market the brand. Retail chains are expected to provided dedicated shelf space to 'Wearit'. Ritspin, in turn, will give them high margin upto 100 per cent on the product sold.

The strategy to launch the product through retail chain is to avoid a huge brand-building exercise such a launch generally entails. "The shelfspace on any established retail outfit would add credibility to the brand and also expose it to the dedicated upper middle class consumer who has the purchasing power," Kumar added.

To begin with, RSL will concentrate on complete range of ladies tops. "We have roped in a young designer who will work exclusively with us. Wearit will have varieties in casualwear, partywear, ethnicwear and officewear", M K Mishra, chief executive officer, RSL, said, adding that ladieswear would be followed by kidswear.

For manufacturing the product, RSL has tied up with two contract manufacturers in Ludhiana and Indore. RSL will give them home made Ritvang, a 100 per cent viscose specialty yarn developed by RSL.

The company has a manufacturing base at Indore with 8,500 tonne per annum capacity. RSL is one of the largest exporter of viscose yarn. The company clocked Rs 90 crore turnover in 2000-01, of which Rs 65 crore is exported to various European countries.

Kumar said RSL was exporting to Spanish retail chains Mango and Zara. Mango recently opened its first shop in India at Mumbai. However, he claimed Wearit products would be 40 per cent cheaper than Mango products.

For 'Wearit', RSL is banking upon Ritvang which has the quality of stretchability. Kumar claimed that RSL was the only producer of this speciality yarn in India.

"Out of the Rs 16,000 crore ladieswear market, which is growing at 9 per cent annually, only Rs 400 crore comprise western garments. So there is huge potential for growth and RSL hopes to be a niche player there," Kumar said.