After strengthening its position in the domestic market for its fashion brand Monte Carlo, Oswal Woollen Mills Ltd (OWM), a subsidiary of Punjab based Nahar group,is set to capture the overseas market. The company is working on a strategy to export its fashion wear range to European markets by 2009. Interestingly, the company also launched its exclusive showroom in Kathmandu, Nepal in October last year.
Talking on its brand Monte Carlo which alone produced the turnover of Rs 125 crore last year, Sandeep Jain, executive director, OWM said, ?The company has 75 exclusive showrooms which showcase the complete range of Monte Carlo across the country and the company intends to add 45 outlets by the end of December by shelling out Rs 2,000 per square ft. The brand has already added summer collection and an exclusive range for women. The brand has added apparel for kids and will lunch a whole range of fashion wear for kids shortly?.
The company which recorded an overall turnover of Rs 400 crore last year, produces ten million t-shirts per annum for international brands including GAP, Reebok, Arrow, IZOD, Chaps and Phillips-Van Heusen. Oswal Wollen Mills, with a CAGR of 30% is mulling an initial public offer (IPO) from last two years. Commenting on the delay of the plan Jain said, ?The market is going through a troublesome phase and we are waiting for the market to get stable. We will launch an IPO as soon as we find appropriate situation?. However he declined to comment on the amount to be raised from IPO. OWM has a production capacity over four million spindles spread over 30 million square meters. The company has super brands in knitwear, Monte Carlo and Canterbury. The product range includes diverse types of woollen, Acrylic and synthetic blended yarns, Lambs wool yarn, woolen, Viscose and acrylic tops.
