Siyaram to launch Rs20 crore apparel unit at Daman
15 Dec '06
1 min read
Siyaram Silk Mills will be launching a Rs20 crore state-of-the-art apparel facility at Union Territory of Daman for manufacturing its ready to wear sub-brand 'Siyaram's MSD' (Monday to Sunday Dressing).
This firm, which is a subsidiary of the Rs1,000 crore Siyaram Poddar Group, will start production from January next year. Facility is equipped with latest machinery and a modern R&D centre to design gents' readymade garments and accessories.
Company's widespread retail chain of 30,000 stores all over India will sell the sub-brand.
Managing Director Ramesh Poddar conveyed that plans are to make Siyaram's MSD the biggest local readymade brand for gents in coming five years, for which a fierce marketing strategy has been prepared.
He further stated that Siyaram will commence global retailing of its co-brand by April next year through launch of five apparel-fabric retail stores. Net profit of the firm has been Rs500 crores in 2006.
marketing@alchempro.com
