Siyarams lines up menswear foray

As part of its Rs 160 crore expansion plan, Siyarams is integrating itself to men's readymade garments and accessories and also diversifying into home furnishings with the launch of Vishal Furnishings.

Siyarams MSD (Monday to Sunday dressing) would comprise of formals, semi-formals, casuals and club wear in the mid and premium segments and is targeted at the youth. The company has roped in cricketer Mahendra Singh Dhoni to be its brand ambassador.

"The ready-to-wear segment is one of the fastest growing segments and we plan to optimise on our fabric expertise to deliver quality products to the customers", said Ramesh Poddar, vice chairman and managing director, Siyaram Silk Mills Ltd.

Initially launched in west and south India, Siyarams MSD would be sold through the company's retail outlets. Even though multi-brand outlets were the company's primary focus, it was in talks with other retail chains to distribute the brand.

Along with men's garments, the company is also introducing accessories including belts, ties and socks. With an initial investment of Rs 20 crore, Siyaram's has set up a manufacturing unit at Daman, while a part of the accessory range will be outsourced.

The company has also ventured into home furnishing with the launch of Vishal Furnishings. Company executives said they were looking at tapping the increasing export demand for home furnishings like bed linen, curtains and upholstery in the US and European countries.

"By the next financial year, we anticipate Siyarams MSD to a brand worth Rs 40 crore while Vishal Furnishing should be a Rs 50-60 crore enterprise," Poddar added.