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Sangam India plans to expand retail stores in tier I and II by March 2017

YarnsandFibers News Bureau 2016-07-03 15:00:00 – Mumbai

Sangam (India) Ltd, an India-based company engaged in textile sector plans to open 10-15 retail stores in tier I and tier II metro towns by March 2017. At these stores, the company to offer more than 100 exclusive ranges of products. Till date, the company has appointed 700 MBOs (Multi Brand Outlets) all over India and intends to take this network to 1,000 by the end of this fiscal. The company has floated a 100 percent subsidiary - Sangam Lifestyle Ventures for its retails business.

The company Chairman R P Soni said that they plan to set up 10-15 EBOs (Exclusive Brand Outlets) by the end of this financial year. It has already started its online retail initiative with c9fashion.Com and has tied up with several online retailers in the country.

The new subsidiary will focus on developing new exclusive chain of stores under C 9 Fashion brand name while the company will continue to expand its multi-brand outlets.

He said that they have received an encouraging response to their recent foray into seamless garmenting. This response is despite the fact that they are yet to fully roll out their brand and marketing campaigns. They are hopeful of a much higher revenue contribution and better operating margin from this segment going forward.

Increased integration focus on exports helped the company maintain realizations, despite falling prices. The company reported a 49.39 percent rise in net profit at Rs 77.04 crore for the last fiscal.

The Group has more than 200,000 spindles and 3000 rotors for producing PV dyed yarn, cotton and OE yarn with an enviable reputation for quality, which is underlined by its ISO 9001:2008 certification. The Group is the largest producer of PV dyed yarn in Asia at single location.

The Group has also introduced seamless garment manufacturing facility with 36 seamless knitting machine with capacity to produce 3.6 million pieces per annum.

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