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ReturnIndia:Siyaram Silk will spread the tapestry in the Middle East
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PublishDate：
2006-12-11 14:28:00
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Mumbai: Siyaram Silk Mills Ltd is foraying into specialised retailing overseas in the first quarter of next fiscal.
The company, part of the Rs 1,000 crore Siyaram Poddar Group, will open five retail stores selling garments and fabrics in the Middle East. It is also looking for joint ventures with big retailers abroad.
Siyarams is planning to enter the technical textile market as well. At present, it is analysing the market growth and margins in this new and developing technical textile segment.
Ramesh Poddar, vice-chairman and managing director, Siyaram Silk Mills, told DNA Money: “We are very serious about retailing not only in India but overseas also and by April next year Siyaram Silk will have presence in the Middle East and after that across the world.”
Sensing the increasing retail boom in the country, Siyaram has already launched its first exclusive retail store under the brand name F2F (fabric-to-fashion), in Lucknow last month. It will launch another 150 exclusive stores in Mumbai, Delhi, Kolkata, Bangalore, Jaipur and Ahmedabad by the end of the fiscal — with an initial investment of around Rs 50 crore.
The stores, spread over 2,000 sq ft, would retail all brands of Siyaram under one roof - J Hampstead, Mistair, Featherz, Miniature and Zanneti and its readymade brand - Siyaram’s MSD.
With its F2F showroom, the company has now become a designer of readymade garments and accessories for men, besides manufacturing fabric.
The company registered a net turnover of Rs 400 crore last year and expects the current fiscal turnover to touch Rs 500 crore indicating a growth of 23.76%.
The company has a well-equipped design studio for its fabric division and for creating a rich internal resource of design to preempt competition from imports and remain future ready.
Siyaram has also ventured into home furnishing with Vishal Furnishings and looking to tap the increasing export demand for home furnishings especially bed linen and curtains in the US and European countries.
It is setting up a modern weaving plant at Tarapur exclusively for home furnishing like upholstery, curtains, bedsheets, and bed covers.
Siyaram will install 102 looms and will set up an R&D centre for developing designs and patterns.
Sewing up
Siyaram will initially open five retail stores selling garments and fabrics in the Middle East
It is planning to enter the technical textile market as well
Company is analysing market growth and margins in this new and developing textile segment.
Source:Industry Website
The company, part of the Rs 1,000 crore Siyaram Poddar Group, will open five retail stores selling garments and fabrics in the Middle East. It is also looking for joint ventures with big retailers abroad.
Siyarams is planning to enter the technical textile market as well. At present, it is analysing the market growth and margins in this new and developing technical textile segment.
Ramesh Poddar, vice-chairman and managing director, Siyaram Silk Mills, told DNA Money: “We are very serious about retailing not only in India but overseas also and by April next year Siyaram Silk will have presence in the Middle East and after that across the world.”
Sensing the increasing retail boom in the country, Siyaram has already launched its first exclusive retail store under the brand name F2F (fabric-to-fashion), in Lucknow last month. It will launch another 150 exclusive stores in Mumbai, Delhi, Kolkata, Bangalore, Jaipur and Ahmedabad by the end of the fiscal — with an initial investment of around Rs 50 crore.
The stores, spread over 2,000 sq ft, would retail all brands of Siyaram under one roof - J Hampstead, Mistair, Featherz, Miniature and Zanneti and its readymade brand - Siyaram’s MSD.
With its F2F showroom, the company has now become a designer of readymade garments and accessories for men, besides manufacturing fabric.
The company registered a net turnover of Rs 400 crore last year and expects the current fiscal turnover to touch Rs 500 crore indicating a growth of 23.76%.
The company has a well-equipped design studio for its fabric division and for creating a rich internal resource of design to preempt competition from imports and remain future ready.
Siyaram has also ventured into home furnishing with Vishal Furnishings and looking to tap the increasing export demand for home furnishings especially bed linen and curtains in the US and European countries.
It is setting up a modern weaving plant at Tarapur exclusively for home furnishing like upholstery, curtains, bedsheets, and bed covers.
Siyaram will install 102 looms and will set up an R&D centre for developing designs and patterns.
Sewing up
Siyaram will initially open five retail stores selling garments and fabrics in the Middle East
It is planning to enter the technical textile market as well
Company is analysing market growth and margins in this new and developing textile segment.
Source:Industry Website
