Punjab-based Trident, one of the largest terry towel manufacturers in the world, is set to launch a retail chain offering an entire range of home textiles.
Abhishek Industries, the flagship of the Rs.15-billion group, will start retail operations in March 2008 under its brand name Trident. It will open outlets in Chandigarh, Ludhiana and Jalandhar.Punjab-based Trident, one of the largest terry towel manufacturers in the world, is set to launch a retail chain offering an entire range of home #
'We will start initially with five stores in these three cities and then move to other big cities across India,' P.K. Markanday, Trident's terry towel division president told.
'The home textiles market in the domestic sector, especially towels, is not that organised. We want to change that.'
Trident supplies mid- and high-end towels to some of the leading retail stores and brands worldwide.
These include Wal-Mart, J.C. Penny, Sears, Target, Reebok, United Colours of Benetton, Nautica, Liz Clairburne, Chris Madden, Target, Guest-Supply and others.
Setting up its own brand in the domestic market through its own retail stores is part of Trident's strategy to move towards achieving its $1 billion target by 2010.
Trident's retail outlets will offer complete home especially bedroom - solutions to clients. The company's marketing head Rajneesh Bhatia says the time is right for Trident to launch its own brand in the domestic market.
'There is no branded towel market in India at present. It is the right time to be in retail,' he said. The company is implementing majorexpansion plans, including the setting up a new Rs.9.5 billion spinning and textile facility near Bhopal in Madhya Pradesh.
marketing@alchempro.com
