Siyaram to to expand retail footprint

Textile player, Siyaram Silk Mills, plans to invest Rs 60-80 crore in the next three years to roll out 200 stores in India and the Middle-East as well as grow its fabric business in the global market. The company plans to open 115 outlets of J Hampstead, Oxembourg, Siyaram MSD and its flagship brand Fabric to Fashion (F2f) by 2012. They currently have 85 stores across India and four in the Middle-East. The funding would mostly be through internal accruals coupled with a small amount of borrowing. The company is looking to expand in Qatar and the United Arab Emirates, where it already has a presence through four Siyaram MSD outlets.