GTN to invest Rs.200 million in apparel marketNovember 22nd, 2011 - 9:36 pm ICT by IANS
Hyderabad, Nov 22 (IANS) GTN Industries Group, an integrated yarns, fabrics and apparels group, Tuesday announced that it would invest Rs.200 million in its mercerized cotton garment facilities to boost its branded apparels market leadership.
Announcing the new growth strategy for Cotstyle Apparels, M.K. Patodia, chairman and managing director of GTN Industries Group, told reporters that the investment would be made over the next two years
The company has already invested Rs.350 million in its world-class mercerized cotton garment facilities.
He said the group during the current fiscal was expecting a turnover of Rs.7 billion, up from Rs.6.25 billion during the last year.
Cotstyle Apparels Ltd, which was launched a year ago, plans to increase its number of stores from the current 750 to 1,200 across the country.
Patodia said domestic market would be a major focus area for Cotstyle. “We are confident consumers in the domestic market will find tremendous clothing value in Cotstyle, as our apparels are made from the best cottons from all over the world: Egyptian Giza, American Pima.”
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Tags: apparel market, confident consumers, cottons, fabrics, focus area, garment, giza, growth strategy, gtn, industries group, managing director, market leadership, mercerized cotton, pima, rs 6, turnover, yarns