GTN to set up Cotstyle branded stores next year

City-based GTN Industries plans to launch its Cotstyle brand apparel stores in select cities across the country by 2012-13.

The Rs 700-crore integrated textile company currently sells 50,000 units a month of its Cotstyle polo shirts and socks in more than 750 stores spread over major cities.The company now plans to increase its presence in 350 new stores in the near future.

“Domestic market growth will be a major focus area for Cotstyle,” GTN group chairman and managing director, MK Patodia, said adding the company would be investing Rs 20 crore over two years in its mercerised garment facilities to support its new growth strategy.

 

GTN, which has separate yarn mercericing, fabric processing and knitting units around Hyderabad, now has a capacity to manufacture 200,000 units a month. “We may expand this capacity based on the market response in the next few years,” Patodia told mediapersons here on Tuesday.

Apart from expanding its business in the domestic market, GTN also plans to tap new export market by making its foray into UK and South America. At present, the company is exporting its products to the US, Canada, Italy, Germany, Netherlands, Hong Kong, Japan, South Korea and Singapore.