The flagship company of the Rs 800-crore S Kumars group, S Kumars SynfabsLtd is planning to sell online its branded range of textiles as well as itscomplete ready-to-wear range for men. The company plans to start sellingonline four-five months down the line through its Website SKumars.com. SKumars Synfabs Ltd managing director Mr Nitin Kasliwal told The FinancialExpress: "We would be finalising banks/financial institutions for ourbusiness-to-business initiative shortly."S Kumars Synfabs also plans to have outlets at major departmental stores inorder to sell S Kumar's textiles and soft goods including accessories,footwear, cosmetics, towels, bed linen and upholstery. S Kumar's existingnetwork includes about 250 wholesalers and 30,000 retailers. Over the nextthree years, each showroom is expected to generate an annual turnover of Rs1-3 crore, says Mr Kasliwal. The ready-to-wear market is estimated at Rs15,000 crore with men's wear alone amounting to Rs 5,000 crore with themarket growing at 30 per cent.
The company is targeting a total turnover of Rs 1,000 crore from sales ofexisting range of fabrics along with a new Reid & Taylor series (yet to belaunched) in this financial year. Exports are estimated to cross Rs 200crore during the year. The current turnover of the company stands at Rs 700crore and net profit at Rs 40 crore.
The Rs 600-crore textile flagship of the S Kumar's group has also announcedthat it will make a foray into the readymade garments industry by launching`Cinnamon' in November 2000. The initial investment involved is Rs 30 crore.
Mr Kasliwal says that the company plans to double the investment to Rs 70crore by the end of 2001. The launch of Cinnamon will be supported by anall-India publicity blitz covering television, print and outdoor.
Cinnamon is being outsourced from an international company. The brand willbe retailed through 150 outlets in metros. The company plans to expand itsretailers by 50 by the end of the year. Further, the company plans to openfour-five exclusive retail shops for Cinnamon in the Middle East by the endof 2001.
"Our move towards the readymades is a pointer to the changing trend in thetextile industry. Ready-to-wear is all set to boom in the next few years.
The entry into ready-to-wear market will enhance our brand equity byproviding value-added offerings to the Indian consumer," according to MrKasliwal.
Cinnamon is a total solutions wardrobe for the Indian male encompassingcasual wear, formal wear, loungewear, jeans, sweaters, undergarments, socks,ties, belts and accessories.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.