INDIA: Whoopi to setup Rs 12.5 cr garment factory
BharatTextile.com (subscription), India
CHENNAI: The brand of Hucke AG of Germany, Whoopi has tied up with the Hyderabad based Novotex Exim (India) Pvt Ltd to launch garments for children up to the age of 12 years, Executive Director of Novotex, Mr Venkat R.V said here on April 19.
International kids wear brand, Whoopi will commission in June a factory in Hyderabad where it will manufacture garments under the Whoopi brand. Further Novotex has an agreement with Hucke under which company will buy back a bulk of the garments produced by Novotex.
The factory which would have a capacity of 50,000 pieces a month will be setup with an investment of Rs 4.5 crore. Whereas in the second phase on a dyeing and processing plant, Novotex would invest around Rs 8 crore, to ensure the garments used anti-allergic dyes.
The company would also invest another Rs 4 crore in setting up retail stores across the country and in brand promotion, which was the master franchisee for Hucke for South Asia for all its brands.
Novetex after tie up hopes to achieve a turnover of Rs 25 crore, with Rs 15 crore coming from exports and further estimated the sales to touch the Rs 100 crore markets, with about Rs 30 crore coming from domestic sales in the next three years.
However Novetex planned to setup 20 exclusive Whoopi stores this year across the country and 200 shop-in-shops in leading multi-brand outlets.
