Visagar Polytex plans 200 retail stores in next three years

City based-Visagar Polytex has chalked out expansion plans by increasing its retail store footprint by adding around 200 stores in the next three years.
The company, which is into manufacturing, retailing and trading of women's ethnic wear, markets its products under brand 'Vividha'. It has a 2000 sq ft flagship store in Kolkata.
The company is currently present in Rajasthan with 13 stores and has a wholesale presence in about 1500 stores. It is now looking to expand in Gujarat, Maharashtra, Madhya Pradesh and Uttar Pradesh.
"We are looking at adding around 40 retail outlets by FY16, 70 outlets in FY17 and balance 90 retail outlets in FY18", Managing Director, Tilokchand Kothari said in a statement here.

"We are following an asset light model and the expansions would be mostly through franchisee route and we will also increase our wholesale presence to 2500 stores", he said.
The company is also doubling its manufacturing capacity at Surat in the next two months from 0.5 billion stitches per day to 1 billion stitches per day. The current fiscal would also see the company invest in its brand Vividha.
For FY16 the company aims at turnover of Rs 110-125 crore and Rs 175-200 crore by FY17.
The company recently announced bonus in the ratio of 10:1, i.E. 10 Shares of face value of Re 1 each for 1 existing share held.