The Hindu Business Line : Inner Space eyeing high-end ladies apparel biz

Hyderabad, April 7 Inner Space, a part of the Hyderabad-based Sanghi Group dealing in classic, contemporary and antique furniture, is now looking to foray into the retailing business for high-end ladies apparel.

“The company in the last four months has been test-marketing the product at our furniture store in Hyderabad and the response has been encouraging. So we have decided to foray into the garments business by having a store-in-store model across the country,” Ms Swati Sanghi, Director, Sanghi Spinners India Ltd and Managing Partner of Inner Space, told Business Line.According to her, apart from having their own brand the stores would also have garments made by other big brands.

“We are currently studying the various markets across the country and that is why it is early to give the number of stores that will be opened. But as of now the plan is to open the first store in Hyderabad by the middle of this year and have a pan-India presence by mid-2009,” she said.

The fashion line is also being showcased for the first time at the company’s furniture festival, being organised in the city. “We are currently looking at having a franchise arrangement in Vijayawada and Visakhapatnam after which we will look a similar model for launching the brand in the northern part of the country. The whole exercise is likely to be completed in the next 24 months,” Ms Sanghi said.

Currently, Inner Space has two crafting units located in Hyderabad and Rajasthan which make around 75 pieces of furniture per month. The turnover of the brand currently is around Rs 3 crore and according to Ms Sanghi they are expecting to double this by the end of the current financial year.

More Stories on : Retailing | Readymade Garments | Interiors & Homes

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