INTERVIEW – Banswara Syntex to raise garment capacity
\nReuters India, India<\/p>\n
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MUMBAI (Reuters) – Textile maker Banswara Syntex Ltd. plans to raise garment capacity to four times in two years, hoping to cash in on India’s booming retail sector that has seen a flurry of private labels, a senior official said.Banswara, which has begun supplying to brands owned by Lifestyle and Westside, expects sales to private labels to grow to a fifth of revenue in two years from 5 percent now, Joint Managing Director Ravi Toshniwal said on Monday<\/p>\n
“We want to say we will be available for private labels in India,” he told Reuters in an interview. “There is a retail explosion in India and margins for private labels are better than exports.<\/p>\n
Banswara would raise capacity to 400,000 pieces each month in two years, he said adding it hoped to have a revenue of 4 billion rupees in the year to March 2014, compared with 3.2 billion rupees last year.<\/p>\n
The garment capacity expansion is part of a 500-million-rupee plan to also raise weaving and yarn making capacity.<\/p>\n","protected":false},"excerpt":{"rendered":"
INTERVIEW – Banswara Syntex to raise garment capacity Reuters India, India MUMBAI (Reuters) – Textile maker Banswara Syntex Ltd. plans to raise garment capacity to four times in two years, hoping to cash in on India’s booming retail sector that has seen a flurry of private labels, a senior official said.Banswara, which has begun supplying […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n