Grasim to invest Rs 75 cr in Bhiwani

Grasim Suitings, part of the Aditya Birla group, is planning to invest Rs 75 crore in the Bhiwani plant for modernisation, technological upgrade and design development.

The company will roll out one more fabric in the last quarter of this financial year, taking the tally to seven in this financial year. Usually, the company rolls out four types of fabrics in the premium range in a financial year.

The company launched its "Look of the Season" range of fabrics here today. The collection comprises five fabrics. Already it has launched one fabric in summer. There will also be fabric shows, awareness programmes and, visual merchandising.

Talking to Business Standard, Deputy General Manager (Marketing) J S Kataria said: "Currently, the company has a market share of 25 per cent in the northern region, which is one of the most promising market regions for the company and it witnessed 10 per cent growth in the last financial year. Moreover, with new products in the portfolio, we are targeting 12-15 per cent growth here as well in the country this year."

As far as the country is concerned, it has a market share of 23-25 per cent. Kataria said, "Each year we are witnessing significant growth." The company is catering for buyers like Levi-Dockers and Haggar in the US; in the UK the products of the firm get sold in the retail outlets of JC Penny, Macy's, Nordstrom's, Marks and Spencer, and Next."

At present, the manufacturing capacity of the Bhiwani unit is 18 million metres a year.

Kataria said the company was currently outsourcing the manufacturing of up to 15 per cent of its domestic sales to countries such as China, Korea and Italy. The company is outsourcing 100,000 metres per day of polyester viscose, polyester linen and other fabrics to these countries.

The company clocked a turnover of Rs 225 crore in the last financial year and this year it is targeting a 15-20 per cent growth rate.