2-Oct-2013
State-run National Textile Corporation (NTC) plans to launch 300 retail stores in the next two years. The corporation plans to launch over 100 showrooms by March 31, 2014 and 300 stores by the end of March 2015, either on its own or using the franchise route, its CMD R K Sinha said at the launch of retail chain outlet 'Indian Republic' here today. Union Textiles Minister K S Rao unveiled the logo of 'Indian Republic' here in the presence of Union tourism minister K Chiranjeevi.
As part of its marketing strategy, NTC plans to launch 300 retail stores during phase one, which would enable NTC to sell 2.6 million metres of garments. It is making efforts to provide quality products at affordable prices in the range of Rs 399 and Rs 1499, NTC officials said.
NTC's turnover during the year before last was Rs 700 crore and the effort is to take it to around Rs 1400 crore. Investment on advertising the initiative on an annualised basis would be around Rs 20 crore, while funding arrangements are in place for franchising, cloth and materials.
Turnover is expected to touch around Rs 250 crore when 300 retail stores are set up, company officials said, adding that NTC also plans to launch women's garments soon.
Replying to a query, officials said that the company's exports are expected to touch Rs 100 crore this year and it has been profitable for about five years.
Talking to reporters, Rao said that efforts are on to attract investments to the tune of about Rs 3,000 crore to Andhra Pradesh.
The government is ready to permit setting up of around four textiles parks in AP for which proposals have been received and the NTC plans to set up a weaving unit in the state at an investment of about Rs 500 crore, he said.
Source:- timesofindia.indiatimes.com
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