The Hindu Business Line : Madura Garments plans to invest Rs 100 cr to expand retail outlets

MADURA Garments has charted out a major retail expansion for its brands — both in India and in overseas markets. The company plans to expand its current portfolio of products to include accessories such as watches and shoes.

According to Mr Hemchandra Javeri, President, Madura Garments, the company is planning to invest about Rs 100 crore to almost double its retail presence. "We will invest in increasing the number of individual brand outlets as well as the multi-brand outlets, Planet Fashion," he said.

Madura Garments now has brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England and SF Jeans in its portfolio.

It has also entered into an exclusive distribution tie-up with fashion brand Esprit and has started exclusive outlets for the same.

"We are also expanding our retail presence in West Asia. We are currently studying other geographic regions where we could introduce our brands. The South-East Asian countries could be a likely option," said Mr Vikram Rao, Director, Indian Rayon and Industries Ltd.

At present, about seven to eight per cent of Madura Garments' total turnover comes from exports.

The company is also in the process of expanding the number of offerings under the individual brands. "For instance, we plan to introduce woman's corporate wear under the Van Heusen brand. We will also roll out accessories such as watches and shoes under the brand," Mr Rao said.

Madura Garments had a turnover of about Rs 485 crore last year. Its turnover in the first half of the year was Rs 291 crore. The company is aiming to garner revenues of Rs 1,000 crore over the next couple of years.

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