Krishna Knitwear Technology chairman Pravin Kumar informed that the investment will be funded through internal accruals. The company has ambitious plans to convert the entire production of yarn into garments in the next three years and increase the revenue to Rs 1,000 crore.

He added that K`n'it is making a foray into the branded apparel market with the launch of two premium brands - League for men and Araiya for women. The brands are aimed at the upper-end of the apparel market and targeted at the fashion-conscious men and women, who seek products of superior design and fashion content.

Mr Tayal added that the League brand will be a high-quality product, backed by extensive research and development - beginning with the selection of cotton for the yarn and careful monitoring till the final garment is packed and delivered to the store.

The Araiya brand will be available in ethnic, Indo-Western and Western categories. Mr Tayal informed that the company had drawn up plans to set up their own brand stores in leading metros. At present, there are two stores for Araiya in Mumbai and this will be increased to 400 stores all over the country in the next one year.

Both the brands are positioned to capture and substitute the imported Western wear market by providing options that are genuine and international in quality and trends but Indian in sizing and fit, added Mr Tayal.