One of India’s leading integrated textile corporations, Sangam (India) Ltd., has decided to spread its wings to tier I and tier II cities. The company is on the move to open around 10-15 stores in these cities by 2017 and to back its initiative, it has already floated 100 per cent subsidiary.
These stores will offer more than 100 exclusive ranges to its customers. Till date, the company has appointed 700 MBOs (Multi Brand Outlets) all over India and intends to take this network to 1,000 by the end of this fiscal.
Elaborating on the idea, RP Soni, Chairman, Sangam (India) Ltd. said that the company plans to set up 10-15 EBOs (Exclusive Brand Outlets) by the end of this financial year. In order to scale up its operations, the company has already opened its online retail venture c9fashiaon.com and apart from going online, it has also joined hands with several online retailers of the country.
Commenting further, Soni informed that 100 per cent subsidiary - Sangam Lifestyle Ventures - has been floated for its retail business. It has received an encouraging response to the company’s recent foray into seamless garmenting. What enthuses the firm is that this response is despite the fact that it is yet to fully roll out our brand and marketing campaigns. Sangam is hopeful of a much higher revenue contribution and better operating margin from this segment.