The Hindu Business Line : Lakshmi Mills forays into casual wear

The Coimbatore-based Lakshmi Mills Company Ltd has announced its foray into the garments sector by launching Tyche Life, a casual wear brand. During a national launch on Friday, the company showcased a range of products made of Lenzing Modal soft fibre sourced from Austria. Speaking to newspersons after the launch, company representatives said that the company was planning to sell the Tyche brand garments across 700 retail outlets and shopping malls throughout the country. Over the next three years, the company would also open 100 exclusive outlets through franchise route, they added. The company, which registered a turnover of Rs 165 crore last year, has invested Rs 15 crore in the new initiative over seven months. "We are expecting turnover to the tune of Rs 10 crore during the year. We have a special line-up for Delhi and Mumbai markets suiting the climate and fashion needs there. We will launch there next month."— Our Bureau

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