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Rajasthan Spinning & Weaving Mills (RSWM), makers of the Mayur suitings and shirtings brand, plans to venture into ready-to-wear men's garment segment. The company aims to capitalise on its existing brand positioning as a premium suitings and shirtings player. RSWM is an arm of Rs 7,000-crore LNJ Bhilwara Group.
"With the revamped strategy to market Mayur brand, we expect its sales to double in the next two years from Rs 110 crore currently to Rs 220 crore. The fabrics division of RSWM has an annual business of Rs 350 crore, which is expected to touch Rs 500 crore in the next two years," said Prabir Bandopadhyay, business head, Mayur Suitings and LNJ Denims.
RSWM has a total turnover of Rs 2,500 crore, of which 70 per cent comes from yarn business and the remaining 30 per cent comes from fabrics.
The company has a total manufacturing capacity of 2 million metres per month, of which 7 lakh metres is currently used for Mayur fabrics sold in India, while 13 lakh metres is used for other brands and exports.
"Our capacity utilisation will remain the same but the share of Mayur fabrics in production will increase to double at 14 lakh metres. This will provide better realisation for the company and boost revenues," Bandopadhyay said.
The company has a strong presence in Gujarat, Madhya Pradesh, Tamil Nadu and West Bengal.
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