Financial Daily from THE HINDU group of publications
Thursday, Nov 04, 2004
Financial Daily from THE HINDU group of publications Thursday, Nov 04, 2004 |
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Marketing
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Strategy Sonal Intertrend to expand facility — To invest Rs 10 cr in two years Sindhu J. Bhattacharya
New Delhi , Nov. 3 EVER heard of therapeutic socks meant for oedema (swollen feet), allergic and painful feet or shirts that are `stain resistant'? Sonal Intertrend Ltd, a joint venture company of Indian, Italian and Swiss promoters, claims to have developed therapeutic socks, shirts with special features and is now planning to invest Rs 10 crore over the next two years in expanding manufacturing capacity for garments. Also on the anvil are 20 company-owned exclusive stores. The company sells these garments under brand name Calzini through 200 multi-brand outlets in India, besides exporting to several other countries. Says its Managing Director, Mr Hari Shankar Goenka: "We have now decided to add shirts, T-shirts and boxer casual shorts to our portfolio. Sonal Intertrend plans to invest Rs 10 crore over the next two years in capacity expansion and in setting up exclusive outlets." Mr Goenka said Calzini has been able to differentiate itself from brand clutter in the market since it offers "more than 65 per cent lower prices than competition for high quality products". He said competitors were retailing shirts at about Rs 2,000 each, whereas Calzini had priced them around Rs 700. He said the company was also one of the largest suppliers of socks to retailers, besides selling its own brand. Explaining the rationale behind manufacturing therapeutic socks, he said these were meant for clientele with special needs. Sonal Intertrend now plans to apply for certification for socks meant specifically for diabetics, containing no elastic. He said some of the company's shirts also contain special features such as stain resistance and eco-friendly ones dyed in vegetable colours. Sonal Intertrend is part of the Rs 300-crore Sonal Garments. The group has 23 manufacturing facilities in Bangalore and Ghaziabad with installed capacity of 8,00,000 pieces of clothes per month. It is a three-way joint venture with Indian promoters holding 70 per cent stake, whereas the remaining 30 per cent is held jointly by the Swiss and the Italian promoters.
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