Grasim to part-source fabrics from China

Grasim Suitings is looking at sourcing some of its fabric requirement from China, in the near future.

S Krishnamoorthy, chief operating officer (COO), said the company has deputed an official in China to survey the market. Grasim was also looking at exporting to China. Of a turnover of Rs 250 crore, the company retailed 65-70 per cent of its products. The balance came from exports and readymade garments.

Krishnamoorthy said, Grasim was expecting a growth of 20 per cent in the current financial year both in value and volume terms, which was much above the industry growth rate of 8-9 per cent.

At present, Grasim had a capacity of 18 million metres per annum and the company was planning to increase capacity by 3-4 million metres in 2005-2006.

To augment its retail activity, Grasim had launched a programme, "Project Storm", where Storm stood for search for territories offering retail space and mind space.