One of India’s largest producers of textiles, ‘Bombay Dyeing’ is mulling over the launch of functional textile products targeting young consumers, and an e-commerce portal by early next year.
“We call the segment as active life which youths have where they would need different kinds of products for different activities such as cycling, gym, etc. Also, in a first in the industry, we are also launching premium digital designer prints which are priced on the upwards of Rs.7,000 and are targeted towards the urban consumers,” Nagesh Rajanna, CEO of Bombay Dyeing Retail said.
With an aim to treble its retail turnover to Rs.1,000 crore by 2020 from over Rs.300 crore in FY 2016, Bombay Dyeing Retail is investing around Rs.100 crore in scaling up the brand, as it looks forward to launch e-commerce portal that will go live by March 2017. It expects that online sales will contribute 8 to 10 per cent to the company’s total revenue by 2020.
The company currently contributes around 17 per cent to Bombay Dyeing & Manufacturing Company Ltd and projects the same to grow to over 30 per cent by 2020.
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