Bombay Dyeing, one of the oldest textile businesses in India controlled by the Nusli Wadia family, is slowly putting in place the building blocks to revive its flagship textile business with investment and expansion plan.
The company plans to invest over Rs 100 crore in the brand, double its multi-brand outlets to 10,000, more than double its franchise stores to 500 and commence three to four new products every year, brokerage Dynamic Levels said in a note on Saturday.
The road to the reinvention started more than a decade ago, when the company decided to exit textile manufacturing. Competition from cheap imports from China and the unorganised sector had rendered its factories unviable. The company also dabbled in apparel, before exiting the segment.
Bombay Dyeing aims to do now is to rev-up the loss making flagship textile business by investing in the brand, expanding store network, growing product portfolio and tying up with international designers. Manufacturing will be outsourced.
This will help the segment more than triple its revenue to Rs 1,000 crore by the financial year 2020 from Rs 305 crore last year.
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