Financial Daily from THE HINDU group of publications
Tuesday, May 18, 2004

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Marketing - Channels and Franchises

Finlay's takes franchise route to revive sales

K.R. Srivats

New Delhi , May 17

FINLAY'S, a Rs 25-crore brand from the stable of National Textile Corporation (South Maharashtra) Ltd (NTCSM), is in revival mode.

Besides expanding the product range under the Finlay's brand, NTCSM is now adopting the franchise route to widen the distribution network for the product range under this brand.

NTCSM, which has already moved up the value chain from yarn and fabrics to readymade garments, has now launched cotton bedsheets and hand towels at a national level under the Finlay's brand name.

"We have tied up with a private individual to open a 3,000 sq. ft showroom in Delhi. This is the first franchise agreement for us with the private sector and would be on a profit-sharing basis. If this is successful, we will have a chain of similar stores in various cities to showcase the entire range of Finlay's products under one roof," Mr V.K. Tripathi, Managing Director, NTCSM, told Business Line.

Plans are afoot to have similar franchise arrangements in cities such as Chandigarh, Ludhiana, Jaipur and Kochi.

Finlay's fabrics are largely sold through agents across the country. Mr Tripathi said that holograms are being used in Finlay's fabrics and sarees to ensure authenticity of the products.

With textile quotas likely to be abolished from January 1, 2005 NTCSM is also looking at export opportunities.

Mr Tripathi said that NTCSM registered a turnover of about Rs 100 crore last fiscal and currently has nine operating mills.

More Stories on : Channels and Franchises | Textiles | Brands

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