The Hindu Business Line : Century Textiles bullish; plans major retail thrust

CENTURY Textiles and Industries Ltd has drawn up plans for a major retail push that will see the setting up of about 50 retail outlets for both textiles and garments this fiscal and about 25 more next year.

This will include the company's own branded theme stores Mangal Pradhan. Century plans to set up about 15 Mangal Pradhan outlets by the end of the fiscal.

The President of Century Textiles, Mr R.K. Dalmia, while inaugurating a retail outlet to market its range of `Auro Apparels' and Cottons by Century in Hyderabad, said that the company had embarked on an initiative to establish its own outlets for readymade garments, made ups and fabrics.

a total turnover of about Rs 500 crore from the textiles outfit, Century, earns about Rs 300 crore from exports. It plans to consolidate its domestic market, where it has solid brand equity. To begin with, Century has already launched cotton shirts, kurtas and T-shirts and it will later on add other products including trousers, accessories and women's wear.

Building on a 105-year-old brand, Century, a pioneer in textiles in the country, was till now focussing on textile trade, particularly the export market. It now sees a huge business opportunity locally.

Century plans an image revamp for the company showrooms and the game plan is to target the young go-getters along with the more traditional existing customer base "With an apt mix of select superfine fabrics, we at Century are very optimistic about the success of the new offerings," Mr Dalmia said. We are gearing up the MFA (multi-fibre agreement) regime, where the market will be opened up after 2004. This will help us tap the huge business opportunity for Indian mills, which hitherto had restrictions in terms of the overall cap on supply. In the next two-three years, we will see a significant towards cottons both casuals and formals. Backed by a retail push strategy, we will be able to garner a big chunk of the domestic business as well, he said.

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