Nine years back in Belgaum I use to observe in Khade Bazaar every third or fourth shop in a sequence was a textile showroom or a redymade garment exclusive shop still remember Amrcons, Magaldeep, Status and Ambica Saari Center in Shahpur is known through out Goa and Maharashtra , today I understand why Nahar group opened its retial unit in Belgaum
Source : www.economictimes.com
CHANDIGARH: Nahar Retail, a wholly owned subsidiary of the Ludhiana-based Rs 2,500-crore Nahar Industrial Enterprises and the owners of Cotton County brand will invest around Rs 430 crore over the next two years on capacity expansions and new outlets. The company will launch its premium segment French Republic and will have 50 exclusive showrooms in North India at an investment of Rs 40 crore. The company will also spend Rs 10-15 crore on brand building. “We will expand our production capacity in our garment unit in Ludhiana. Currently we manufacture 8,000 garments a day. We will take this to 20,000 garments per day by April 2008. Of the total investment of Rs 430 crore, about Rs 40 crore will be for this,” Nahar Retail’s vice-president, Sachin Sahni, told ET. On the French Republic expansion plans Mr Sahni said “Cotton County is our fashion & lifestyle brand in the medium segment and now we will have a premium segment called French Republic. Right now it is available in some selected Cotton County outlets. By the middle of the next financial year we will have around 50 exclusive showrooms for French Republic. All these stores will be in North India,” he added. Mr Sahni said they will add 75 Cotton County stores in the next six months and will have around 150 stores in the southern cities by 2008-09 at an investment of around Rs 40 lakh per store. Having made its presence felt in Tier II & Tier III cities, Cotton County, will now foray into metros and cities in South India. Currently, with 365 exclusive outlets across North India, Cotton County is targeting 500 stores by the end of this fiscal, which translates into launching one new store a day & and cross the 1,000 store mark by the 2009. Through its franchisee route, within its first year of operations itself, Cotton County had over 120 stores across the country. The company has already launched its stores in Gulbarga, Raichur & Belgaum in Karnataka and are looking at key markets such as Bangalore, Hyderabad, Chennai, Mangalore, Coimbatore, Kochi, Madurai, Thiruvananthapuram, Tiruchirapalli, Vijaywada, Visakhapatnam, etc. The company will be focusing on its new kids wear under the brand name TAZO and women’s wear FEMME which will be available in Cotton County stores. Apart from that the company will be looking at denim products in a big way and will be looking to get a market share of about 5% in the denim segment, he added.