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Delhi-based cotton textile company, TT Textiles Ltd, which has recently started setting up a franchise-operated retail chain in the north, plans to expand its outlet in the southern States.
“We are at present using the organised retail chain, such as Big Bazar and More in the South. We now plan to set up our own retail outlets first in and around Tirupur, where we have a manufacturing facility, and later expand in Tamil Nadu, Andhra Pradesh, Karnataka and Kerala,” Mr Sanjay Jain, the company’s Joint Managing Director, told Business Line.
It presently has 20 outlets, mostly in the National Capital Region, based on the neighbourhood stores concept. It plans to have some 250 retail outlets in the next three years, having recently launched e-retailing.
Mr Jain said the company is in the process of sharpening focus on organic innerwear. “We plan to launch organic T-shirts in the next few months. Organic innerwear, involving cotton produced without pesticide and chemicals, is a new concept in India, but is catching up. Organic vests, for instance, cost 15 per cent more than the non-organic variety. We have been exporting organic yarn to various countries,” he said.
The company has kicked off a Rs 150 crore expansion programme, envisaging addition of 37,500 spindles in Gujarat and a Rs 15 crore captive wind power facility. Its garments expansion is mostly in the Tirupur belt. “Today we are doing about three million pieces a month and we plan to increase to six million pieces in the next 18 months,” Mr Jain said.
He said cotton prices could further increase in the coming months. “Today, cotton is being sold for Rs 55,000 per candy, up from about Rs 23,000 tonnes a year ago. In China, prices are ruling at between Rs 75,000 and Rs 90,000 a candy,” he pointed out.
Mr Jain feels that India may be producing about 300 lakh bales, as against the earlier projections of 330 lakh bales, this season. “The domestic textile industry could be hit if the Government allows for more cotton exports. Already from November 2010 to February 2011, 55 lakh bales have been committed for exports,” he said.
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