Coimbatore-based integrated textile manufacturer, KPR Mill, has entered the domestic retail market with FASO brand of inner wear and athleisure products.
Chairman of the group K.P. Ramasamy told presspersons here on Sunday that the ₹4,000 crore turnover group decided to enter the retail market as it saw potential for a domestic brand. It will start with 15 products to be sold at multi-brand outlets in Chennai, Coimbatore, and Madurai. All are organic cotton, menswear products in the premium segment. The group has appointed five distributors and 250 dealers for the three cities.
“The products will be made in-house and we are investing ₹50 crore for the manufacturing,” he added.
ADVERTISEMENT
The group will cover the southern States by August this year with 33 products and go pan India by 2020. It also plans to venture into the e-commerce segment when its products are present across the country.
The products are designed by a freelancing Italian designer. The brand will soon have a brand ambassador and a full-time designer. “We are also open to tying up with overseas brands if opportunities come.”
“We have the entire value chain and export to different countries. The Indian market is growing rapidly. The company is maintaining 15 % to 20 % growth,” Mr. Ramasamy said. Asked about the revenue expected from the domestic sales, he said it was too early to assess the market response.
ADVERTISEMENT