Financial Daily from THE HINDU group of publications
Thursday, Feb 23, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 23, 2006 |
|
|
|
|
|
|
|
Corporate
-
Outlook Sharadha Terry plans foray into Japan L.N. Revathy
Coimbatore , Feb. 22 SHARADHA Terry Products Ltd is planning to foray into the Japanese market. "We are planning to introduce the `Microcotton' brand in Japan next year. We have established our presence in the US and the UK. Our next target market is Japan," Mr G. Kannappan, Chairman and Managing Director of Sharadha Terry Products, told Business Line. The 100-per cent export-oriented unit, which is located near Coimbatore, began operations in 1994 with 16 looms. It has increased its capacity to 128 looms and is planning to add another 70 by September 2006 to meet the increasing demand. Terry products ranging from home towels to institutional towels are manufactured there."Until we introduced the ultra soft, low twist and high absorbency towels under the `Microcotton' brand, we used to sell by weight. Now, these towels command a premium. In the initial days of the rollout, we priced the towel in the $20-$24 range. We have introduced a premium range priced at $45-plus. We have registered a double-digit growth. The rise in the price levels has triggered a volume growth," he added. The company has entered into a marketing tie-up with the top 20 to 25 stores in the US. "We have established direct contact with retailers such as Macy's, Bed Bath & Beyond, Restoration Hardware, Matalan, Dillard, Kohl's in the US, the UK and the rest of Europe. We are not into the mass market, but within the store, we try and grow," Mr Kannappan said. Sharadha Terry has also started manufacturing bed sheets and blankets during the current year. To meet yarn requirements, the company has invested Rs 60 crore to set up a spinning unit with 33,000 spindles for backward integration. The total investment in terry products is Rs 250 crore.
More Stories on : Outlook | Textiles | Brands
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|