Ready for lion’s share in garment sector
NT Bureau
Chennai, Apr 16:
Century Textile and Industries Limited (CTIL) has forayed into apparels business in a big way with the setting up of exclusive stores across the country to retail a range of product categories.
Under its wholly owned subsidiary Cottons by Century, the company has 46 stores and 10 franchisee outlets and has begun distribution of varied readymade garments in Kerala with opening of 32 stores through a single dealer. ‘We will be opening 70 new stores in this year, with expansion mostly in the West and North. Around 70 per cent of our operational costs are from retail business for we invest Rs 15-20 lakh per store,’ said Subrata Siddhanta, business head, Cottons by Century, at a press conference recently.
Announcing the launch of Tamilnadu operations, he said as the retail garments was the most happening thing in the country, it was the right time to expand in southern States. Cottons by Century has four zonal offices in Delhi, Bangalore, Mumbai and Kolkata, with most of the sales coming from Maharashtra and Mumbai, followed by North and South. ‘We have changed our emphasis on fabric exports to focusing on the domestic market for apparel as there is better price realisation in the price front for retail garments,’ Siddhanta said.
Part of the B K Birla group, Cottons by Century has taken up both consolidation as well as expansion drive with a target to reach Rs 60 crore in the financial year 2014-07. For the 10 months ended December 2005, this business unit of CTIL has clocked a turnover of Rs 25 crore, a growth of 180 per cent over the same period last year. The company will be setting up 20 more stores in the current year in which a rang of ready-to-wear garments like shirts, trousers, T-shirts and kurta pyjamas are being stocked for retail business. Readymade shirts alone contributed 60 per cent of the sales, though the company has a wide range of men’s apparels for self-consicous and quality customers.
Also, the company offered products at different price points starting from Rs 495 to Rs 1,295 in the shirts with a view to reach out to larger market through affordability. ‘Our R&D team is constantly striving to make sure that the styling and fabrics are in sync with the needs of fashion conscious Indians and are designed keeping in mind the latest trends,’ adds Siddhanta.
Cottons by Century is looking for distributors in Tamilnadu who could set up stores, besides multibrand outlets in towns and smaller cities of the State.
