India: Textile company Bombay Dyeing to re-enter apparel business sensing growth
The rising demand for readymade clothing in the Indian men’s apparel market has propelled Bombay Dyeing, the leading home textiles’ manufacturing company of the country, to make a comeback to the segment.
Previously, Wadia Group’s textile company had its own apparel brand named ‘ Vivaldi’ which they had sold to Proline India, in a bid to focus more on the home furnishings’ business.
Aloke Banerjee, CEO – Retail at Bombay Dyeing said that there is a huge demand in South India for readymade apparels and they will test it there initially and later on expand to other parts of the country. It is also being reported that the company will place products under the price bracket of Rs. 1,000.
At present, Aditya Birla’s Madura Fashion & Lifestyle is leading the country’s menswear market with Allen Solly, Louis Phillippe and other brands; Raymond is also in the race with Park Avenue, Color Plus and Prax; while Arvind Limited runs brands like Arrow and it recently launched ‘Arvind – Ready to Wear’ label.
It will be interesting to see how Bombay Dyeing makes itself get counted in the competitive Indian apparel business where various international brands are also launching their lines.
Meanwhile, in another development, Banerjee revealed that the company is looking forward to introducing bedsheets on which consumers can print digitally, it will work like a digital home printer. The company will take 30 days to print the customers’ desired graphics and will charge them Rs. 1,999. ( You can upload the picture on Bombay Dyeing’s website or send it to their retail store as well).
Bombay Dyeing is also planning to enter the Central Asian market in the near future. Further, it is mulling 100 new retail stores in the current year, primarily in Tier-II and Tier-III cities. Currently, the company has ownership of 27 stores, 200 franchise stores and 3,000 multi-brand channels.
Markedly, the textile company witnessed a growth rate of around 30-35 per cent in retail and textile industry, said Banerjee. With the (re) foray into menswear and the launch of new home products, Bombay Dyeing expects further surge in its business.
Bombay Dyeing is planning to enter the central Asian market with 100 new retail stores