Visagar Polytex planning for 200 Vividha franchise showrooms across India

YarnsandFibers News Bureau 1969-12-22 00:00:00 – Mumbai

Visagar Polytex a multi dimensional Organisation engaged in textile manufacturing, wholesale, retail & trading business. Vividha is the leading ethnic wear fashion brand of Visagar Polytex, The company plans to have around 200 Vividha franchise showrooms across India.

VIVIDHA is a product of decades of collective Research and Experience shared between a sound and dynamic management team. VIVIDHA benefits from a dedicated in-house design team and manufacturing capability. They have in-house manufacturing at their state-of-the-art unit in Surat and have hand-work capacity at Kolkata.

The current capacity of the company is around 125 billion stitches per annum. They plan to meet the increased demand through captive production, hence the proposed capacity will be much higher and the new machinery will be installed as per the increasing demand.

The funds requirement for this capacity increase will be met out through their existing resources and the bankers. They have already sanctioned the term loan from the bank.

Tilokchand Kothari, Managing Director of Visagar Polytex, said that in the first quarter the company got a revenue of Rs. 20 crore and they expects good returns from the coming quarters.

Talking about the core business of the company, he said that their product line includes various fabrics in the non-branded market with wide range of sarees and lehengas. Recently, they have introduced a new product, which is salwar suit. Currently, salwar suit is estimated to be a Rs 20,000 crore plus industry and a sizeable chunk of ethnic wear in the market.

Given the fact that this quarter was full of wedding and festivals they are very much optimistic about this quarter result.

Currently, they have direct presents in over 15 locations across India. The Company plan to have a nationwide presence soon by giving out successful franchisees of VIVIDHA.

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