State-owned National Textiles Corporation (NTC), which has been financially revived thanks mainly to sale of its surplus land, plans to strengthen its core operations by launching new range of branded garments.
“We are going there in a big way. I want to make big brand value of the company by the end of the current fiscal,” NTC Chairman and Managing Director Mr K Ramachandran Pillai told PTI.
He said the expansion of the branded segment will transform the company from a single-product (yarn) to a multi-product organisation-spinning, weaving, processing and garmenting.
“We will produce garments in our integrated units in Hassan (Karnataka) and in Amravati (Maharastra),” Mr Pillai said.
About Rs 60-crore unit for garmenting has been set up in Amravati and Rs 260 crore unit in Hassan.
At present, the firm sells ‘Entyce’ shirts and ‘Rassa’ home furnishing in the domestic market through its retail stores.
NTC plans to revamp its showrooms which are not generating profits.
Of the 92 showrooms across the country, only 37 are profit-making.
“Our idea is to revamp these showrooms and make them standardised,” Mr Pillai said.
The company plans to float tenders inviting experts to refurbish the stores and to market the products.
On April 4, NTC reported about four-fold increase in its total income in FY’11 to Rs 2,741 crore, most of which came from sales of mill lands in Mumbai and Ahmedabad.
During 2010-11, the company had garnered Rs 2,011 crore by selling six defunct mill lands aggregating 50 acres.