Textile giant S Kumars Nationwide will soon export readymade garments to tap opportunities in the international market. | |
| The company will also introduce new brands, expand its retail network and increase capacities to strengthen its presence in the apparel sector, which presently constitutes three per cent of the company's total business. |
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| The post quota era has opened up the international market for exports of readymade garments, shifting significant capacity to India, company executives told Business Standard. |
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| "The company will be investing Rs 15 crore to set up capacities for the exports. In the first year, we expect a turnover of Rs 50 crore from exports to European and US markets," said Govind Mirchandani, executive director, S Kumars Nationwide. |
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| S Kumars has acquired a manufacturing unit for shirts and trousers in Bangalore, while construction of a new plant for production of suits is underway. The company has a capacity of 2000 shirts, 1500 trousers and 500 suits per day to cater to exports demands. |
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| S Kumars is also planning to introduce six new brands to increase its domestic presence in the apparel sector. |
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| The company has entered into the lincesee arrangement with UK-based Austin Reed Group to introduce Stephens Brother, a formal wear brand in the super premium segment. |
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| Tarun Joshi, CEO, Brand HouseRetail, said, "The branded shirts segment has a good growth potential and we intend to be present in all the segments. Stephens Brother will be introduced in March 2007, which will be sold through exclusive branded outlets. In the first year, the company plans to open 10 stores. We plan to increase it to 50 by the fifth year." |
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