Denim brand Mufti on Thursday said it is eyeing a revenue of Rs 1000 crore in the next three years, backed by its expansion in the footwear segment.
It is also looking at ramping up its distributional network for its footwear to 500 stores, including multi brand outlets, its stand-alone stores and its existing network of retailers in the coming year, from 100 stores at present, the brand said in a statement.
"With the current estimated size of Rs 34,400 crore, the footwear segment is expected to grow over Rs 55,400 crore in the coming five years. The expansion into the footwear segment is a part of the company's vision of becoming a Rs 1000 crore brand in the coming three years," Mufti founder and managing director Kamal Khushlani said adding that it will begin to expand into newer categories. ****************** MCX Clearing Corp joins Asian securities depository assn ACG *
Multi Commodity Exchange Clearing Corporation (MCXCCL), a wholly owned subsidiary of Multi Commodity Exchange of India (MCX), on Thursday said it has become a member of The Asia-Pacific Central Securities Depository Group.
The Asia-Pacific Central Securities Depository Group (ACG) incorporated in 1997, is an association of securities depositories and clearing organisations in the Asia Pacific region to facilitate information exchange, to promote mutual assistance among members and efficiency and cost effectiveness in clearing, settlement and depository services.
Currently, the ACG acts as a regional alliance and its membership structure includes 34 depositories and clearing organisations from 24 member countries across Asia.
"Becoming a member of ACG marks an important development, especially in the light of MCXCCL being the first clearing corporation in the commodity derivatives market in India to have recently commenced its operations. It is in line with our strategy to support a vibrant commodity market in India. Moreover, it is a step towards our integration with global financial markets and reflects our commitment to implementing the highest standards of international best practices," MCXCCL managing director and chief executive officer Narendra Ahlawat said. ******************** Nagpur Patanjali Food Park to begin ops in March 2019 *
Nagpur: The Patanjali Food Park in (Multi-modal International Cargo Hub and Airport) Mihan, Nagpur is expected to begin operations in March 2019.
The first unit of the 234 acre food park has a capacity to process 800 tonne of oranges per day, and will also process 600 tonne of amla and 400 tonne of other tropical fruits per day, a senior company executive told PTI.
The official further said that the plant will generate zero waste. It will also also produce byproductslike orange peel oil, dehydrated orange peels and vegetables.
Advanced technology would be used for the processing and manufacturing of food products, he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)