Jaya Shree Textiles Eyes Rs. 1,000 Crore Revenue
Leading linen fabric-maker Jaya Shree Textiles, a unit of Aditya Birla Nuvo, is aiming at Rs. 1,000 crore revenue from its linen, yarn and fabric business in next two years. It also plans to expand the number of exclusive stores to 200 in next three years.
The company opened a new exclusive brand outlet in Bangalore today and has plans to add two more stores by the end of this month, taking the total count to 116 by March end.
“We are aiming to have a revenue of Rs. 1,000 crore in next two financial year. The company would now add stores across the region with a more balanced growth,” Aditya Birla Group business head – domestic textiles, overseas spinning and acrylic fibre, Thomas Varghese said.
Presently, company’s revenue is in the range of Rs. 700-750 crore. It has presence mostly in South India, although its stores are located in 90 cities across 17 states. Varghese said Linen Club has become more youth-oriented by adding additional colours, design and trends and informal fabric.
Moreover, it is also pushing its recently launched range of readymade shirts under the brand name of “Linen Club Studio”, targeting the youths.
“We have priced it aspirationally starting from Rs. 2,500- Rs. 3,000 onwards. It is now only available at exclusive brand outlets but soon it would also be sold through multi brand outlets,” he added.
About the investment by Linen Club while expanding its network, Varghese said most of the upcoming stores would be based on the franchise model.