The Hindu Business Line : Nahar Enterprises on expansion mode

THE Punjab-based Nahar Industrial Enterprises Ltd, engaged in fabricating and spinning yarn, plans to expand its garment retailing business in association with the brand Cotton County.

The company is retailing men's apparel through its store chain in Gujarat, Haryana, Punjab and Rajasthan.

It opened its first retail unit in October last year and currently has 28 stores.

The company plans to have 40 stores by the end of next month and 100 by the year-end. It will offer ladies' and children's apparel shortly.

Nahar Enterprises has also announced expansion plans of its spinning facility to take the number of spindles to 158,688 from the existing 120,288 and the number of looms to 426 from 306.

Mr Kamal Oswal, Vice-Chairman and Managing Director of the company, said, "We have decided to install new, imported fabric printing and yarn dyeing machines, open-end machines, and compact yarn systems, which will further help in improving the quality of the yarn and the fabric."

The company had a turnover of Rs 625 crore last fiscal, and is targeting Rs 825 crore this fiscal.

It hopes to clock a turnover of Rs 1,000 crore by 2007.

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