One of India’s largest producers of textiles, ‘Bombay Dyeing’ plans to treble retail turnover by adopting the franchise model. BDMCL posted Rs 1,845.7 crore turnover to which retail or textiles segment contributed to nearly 17 per cent or Rs 305.7 crore for FY16. It currently aims to achieve a turnover of Rs 1,000 crore by 2020.
In the process, the company has shut all its manufacturing plants for the past two years and shifted sourcing of its products on franchise model. It has hired 10 critical and fairly large manufacturing companies on franchise basis that contribute around 90 per cent of its output requirements. Also, the company has engaged a number of small manufacturers to meet its annual requirement.
To achieve its goal, Bombay Dyeing plans to appoint at least one franchise stores in small cities with over 100,000 population. It plans to open 500 such franchise stores in four years.
“We have been investing in technology, talent and brands immensely to achieve this growth. Until recently, we had been banking largely on brand loyalty with the quality products on offer to retain our customer base,” Nagesh Rajanna, chief executive officer of Bombay Dyeing Retail said.
Apparel and Textile News, Apparel Talk, Indian Apparel
