The Hindu Business Line : Bombay Rayon's Rs 247-cr plant commissioned

Bangalore April 20 Bombay Rayon Fashions Ltd (BRFL) plans to invest Rs 350 crore during the current fiscal to set up an additional unit in the Apparel Park in Doddabellapur.

The company, which announced on Friday its plans to enter the retail business, would be investing Rs 200 core during the next two years to set up 75 outlets in the country to market its own brand. It is currently evaluating the brand name.

Mr Prashant Agarwal, Managing Director, told media persons here said with the expansion and the existing capacity in its multi-location facilities, BRFL would be more than doubling its turnover to Rs 1,200-Rs 1,300 crore by FY 2008.

Mr Agarwal, who was here in connection with the formal inauguration of the new integrated textiles and garments plant in the Apparel Park, said the plant had been set up at a cost of Rs 247 crore. With this, BRFL's total installed capacity from its multi-location units would go up to 50 million meters of fabric per annum and 64,000 pieces of garments per day. The company had funded the project from the proceeds of its IPO raised in 2005 and the Central Government assistance under the Textile Upgradation Fund Scheme.

With its strong presence in the fashion garments segment and by catering to various international brands, BRFL plans to expand its exports by setting the second design and marketing office in Europe. Its first office, set up more than a year ago in Amsterdam, gave BRFL access to the European market. It hopes to expand its market in Britain through its recent acquisition of DPJ Clothing, a leading design and marketing company in London. The company will also be setting up a marketing office in the US to cater to the market.

BRFL's exports, amounting to Rs 240 crore, is expected to increase two-fold with the expansion in capacities, Mr Agarwal said adding that Europe accounts for 60 per cent of its total exports.

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