Garment firm Oracle forays into retail
Economic Times, India
CHANDIGARH: Lifestyle garment manufacturer, Oracle today said it is planning to set up a garment retail chain, entailing an investment of Rs 10 crore by March 2014.
“We are planning to open about 10-12 outlets, which would showcase our entire range of garments,” Oracle Managing Director Sanjeev Singla told reporters here today.
The company would initially start its operations from northern region and gradually move to other states, he said.<--more-->
Presently, Oracle is selling its garments through franchise outlets in several states including Punjab, Jammu and Kashmir, Haryana, NCR, Himachal Pradesh, Uttar Pradesh, Bihar, Jharkhand, Delhi and West Bengal.
The company is in talks with several foreign-based clothing retailers for manufacturing garments under their brands.
It would also extend its product portfolio in order to offer wide range of garments at their outlets, Singla said.
“Presently, we manufacture winter wears such as jackets, pullovers, coats, formal wear for both men and women. We have now decided to manufacture jeans and trousers too,” Singla said.
The Ludhiana-based company, which did a business of Rs 15 crore last fiscal, targets to achieve a turnover of Rs 25 crore by March 2014.
