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Pantaloons, Shopper's Stop may pick up APCO stocks

Our Bureau

HYDERABAD, Aug. 13

MAJOR departmental retail chains - Shopper's Stop and Pantaloons have firmed up plans to pick up handloom stocks from APCO - the State-owned apex handloom weavers co-operative society, according to the Union Minister of State for Handlooms and Textiles, Mr. V. Dhananjaya Kumar.

In addition, the ailing APCO has begun to show signs of revival following good orderbook position during the ensuing festival season. During April to July, APCO, while raking up good order book, has sold Rs. 8.61 crore worth stocks.

In order to further enhance its marketing capabilities and leverage newer markets, APCO has also tied up with the National Institute of Fashion Technology (NIFT) and is launching APCO brand garments later this month at a three-day handloom exposition pla nned to be held here.

The Union Minister said APCO has issued a Rs. 30-crore production plan for purchase of cloth from 400 handloom weavers' co-operative societies for the current year of which Rs. 4-crore stock has already been supplied.

While the order from Shopper's Stop is for supply of handloom dress materials, it is for firm order of material from Pantaloons. The latter is expected to pick up about Rs. 60 lakh worth of material per month, the Minister said.

The State Government in league with the Union Textile Ministry had sent in proposals for upgradation of the powerloom service centre here with an extension counter at Sircilla.

Following this move, the National Textile Corporation has opened up a cone yarn depot at Sircilla and already 1,700 kg of yarn has been picked up by the powerloom weavers of Sircilla.

It may be recalled that the powerloom sector in Andhra Pradesh, particularly in the Sircilla region, was in a state of distress.

Revival package: The Union Minister, who was here to review the status of weavers and several revival initiatives, announced that the State Government proposal for a Rs. 21-crore revival package for APCO, has been cleared by the Union Government.

The State will pool in 50 per cent of the revival scheme which is aimed at restructuring and right-size the co-operative and make it financially viable.